Fact check: Philippine peso is now ‘Asia’s best currency’

Fact check: Philippine peso is now ‘Asia’s best currency’

- A social media post claimed that Philippine peso is “Asia’s best currency” recently

- The report has been shared by multiple Facebook pages from October 31 to November 5, 2019

- However, it has been reported that the claim was misleading

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An online post has claimed that the Philippine peso is the “best currency” in Asia today.

However, KAMI learned that the claim was misleading.

In a report by Rappler, Facebook page “Thinking Minds” shared an article regarding the claim.

“The Philippine ₱eso has surprised our Asian neighbors!!! Thank you, President Duterte!!” it stated in the caption.

“Philippine Peso Surprises to Become Asia’s Best Currency,” it read in the headline.

The report has been shared by several Facebook pages from October 31 to November 5, 2019.

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According to Rappler, the claim stemmed from a Bloomberg article that was published in March 2019, when the Philippine peso bounced back in February.

However, the 8-month old report is no longer accurate in the Philippines’ current setting.

In May 2019, Bloomberg also published an article that the Philippine peso was risking its status as Asia’s best currency if the central bank eases its monetary policy and it did.

In a more recent report by Bloomberg published in September 2019, the Thai baht was tagged as Asia’s best-performing currency, while the Taiwan dollar was Asia’s hottest currency in October 2019 report.

You may check the report on this link and here.

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Source: Kami.com.ph

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