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Wealth Watchers: August 2022
Manage episode 343495715 series 3324313
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Note: This episode was derived from a webinar that was held on September 16, 2022, covering the month of August and the first two weeks of September.
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For the first time in history, the Philippine peso plummeted and breached the 57-level against the U.S. dollar. This is 12% above the 51 pesos per dollar rate at the start of the year. While most Asian currencies take a beating against the greenback, U.S. Federal Reserve Chairman Jerome Powell and other Fed officials signaled for more rate hikes.
Join our Investment Analyst Dazz Mercado as he talks about the drivers and implications of the weak peso to the Philippine economy and local investment markets. At the same time, he also touches on how the global themes of elevated inflation, tighter monetary policies, and weaker economic growth continue to take shape.
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