MANILA, July 12 (Reuters) – A weakening in the Philippine peso is not a concern, with the central bank committed to retain a market-determined foreign exchange rate and an accommodative monetary policy to support the economy, its governor said on Monday.
The potential for rate hikes by the U.S. Federal Reserve would also not pose a problem given the Southeast Asian country’s ample dollar reserves, Philippines’ central bank Governor Benjamin Diokno told ANC news channel. (Reporting by Neil Jerome Morales Editing by Ed Davies)
