Marcos tells people not to panic even as peso sinks further

MANILA, Philippines — President Ferdinand Marcos Jr. urged the public not to panic after the peso hit another record low of ₱64.18 on Wednesday.

In an interview, Marcos cited the rising cost on fuel caused by the ongoing conflict in the Middle East as the primary factor behind the peso drop to another all-time low.

“Do not take it with alarm. Don’t panic,” said Marcos.