Peso trades weaker since Duterte assumed presidency

Since the start of Duterte administration in June 2016, the Philippine peso has tracked a losing streak against the dollar and is now trading at its lowest level in nearly 11 years.

The local currency lost 7.24 percent of its value to P50.470:$1 as of end-June this year, from P47.060:$1 on June 30, 2016 – the first day of President Rodrigo Duterte in office, data from the PIDS Group, the trading floor for foreign exchange trading, showed.

Economists and government economic managers were not inclined to blame Duterte's controversial anti-drug campaign and his profanity-laced ranting against his critics for the peso-dollar exchange rate.
 
Rather, they attributed foreign exchange fluctuations to interest rate hikes in the US and monetary policy tightening in other developed markets. — Ted Cordero/VDS, GMA News