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B10.5: THE EXCHANGE RATES OF THE PHILIPPINE PESO

The Philippine peso devaluation was caused by foreign exchange crisis, thus the government allows the peso to float (especially in 1970s) in the foreign exchange market. The flexible exhange rate system has been in effect since then although it was not util 1973 that the system of generalized floating was formally initiated. The exchange rate regime can be more precisely described as managed float rather than fully flexible.

Ateneo Center for Social Policy and Public Affairs
Authors Keywords
Tan, Rosalina P.; capital market development;
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