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Friday, September 4, 2026 · UTC
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Philippine Peso Slides as Central Bank Criticizes National Consumption Habits

BSP Governor Eli Remolona Jr. links the peso's depreciation to low national savings and a consumption-driven economy.

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As of 2026-09-04 01:28 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.
On September 2, the peso-dollar exchange rate closed at P62.50 per dollar, representing a 9% drop from the previous year's rate of P57.30. [1] As of end-July, the Philippines had $103.3 billion in gross international reserves, which is enough for 6.7 months of imports. [2] Governor Remolona remarked that the Philippines has a 'consumption culture' and a low saving rate, which he linked to the peso's depreciation. [3] In 2025, consumption spending by the private sector accounted for 73% of total spending in the Philippine economy as measured by GDP. [4] Congresswoman Sarah Elago questioned the Philippine National Police's warning to potential rape victims, describing the act of issuing such warnings as victim-blaming. [5] The Philippine National Police's poster was a call for awareness, reminding women not to wander alone in dark alleys or meet new acquaintances from social media. [6] The author argues that Congresswoman Elago should look into political correctness advocacies, which she also supports, as a way to protect victims from being blamed. [7] The author suggests that thieves can be considered to be suffering from kleptomania, another form of mental disease. [8]
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  1. On September 2, the peso-dollar exchange rate closed at P62.50 per dollar, representing a 9% drop from the previous year's rate of P57.30. · RAPPLER
  2. As of end-July, the Philippines had $103.3 billion in gross international reserves, which is enough for 6.7 months of imports. · RAPPLER
  3. Governor Remolona remarked that the Philippines has a 'consumption culture' and a low saving rate, which he linked to the peso's depreciation. · RAPPLER
  4. In 2025, consumption spending by the private sector accounted for 73% of total spending in the Philippine economy as measured by GDP. · RAPPLER
  5. Congresswoman Sarah Elago questioned the Philippine National Police's warning to potential rape victims, describing the act of issuing such warnings as victim-blaming. · The Manila Times
  6. The Philippine National Police's poster was a call for awareness, reminding women not to wander alone in dark alleys or meet new acquaintances from social media. · The Manila Times
  7. The author argues that Congresswoman Elago should look into political correctness advocacies, which she also supports, as a way to protect victims from being blamed. · The Manila Times
  8. The author suggests that thieves can be considered to be suffering from kleptomania, another form of mental disease. · The Manila Times
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