Malacañang has agreed with the Bangko Sentral ng Pilipinas (BSP) position that the country's economy can withstand the continued weakening of the peso against the dollar, provided it remains orderly and controlled.

Palace Press Office Undersecretary Claire Castro said the statement of BSP Governor Eli Remolona Jr. on the possible decline of the peso to PHP 63.50 per dollar is based on data.

The Palace also said the peso is affected by various global factors, including US interest rates, tensions in the Middle East, and rising oil prices in the world market.

The administration of President Ferdinand Marcos Jr. assured the public that it will continue to work with the BSP to maintain economic stability and protect the purchasing power of Filipinos.

The President, economic managers, and BSP officials have also met at Malacañang to discuss measures to cushion the impact of the peso's depreciation on the public.

"Ang economic team po kasi at ang BSP ay nagtatrabaho in sync, in maintaining micro economic stability and safeguarding the purchasing power of the Filipinos. So lahat ay dapat gawin para mapigilan ang pagbaba ng value ng peso dahil naniniwala pa rin ang pamahalaan sa ginagawa ng BSP."

(The economic team and the BSP work in sync in maintaining macroeconomic stability and safeguarding the purchasing power of Filipinos. So everything must be done to prevent the decline in the value of the peso because the government still believes in what the BSP is doing.)