Following the Monetary Board's policy meeting yesterday, Remolona said monetary authorities are closely watching the movements in the foreign exchange market as they don't want the peso to depreciate too sharply.
"We occasionally intervene. I think (yesterday) we did intervene. We don't want the peso to depreciate too sharply (against the dollar)," Remolona said.
However, the impact of a weaker peso to inflation would not be very large, he said.
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