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Please help me with my international economics IA. 

This is my article.


I'm not sure what exchange rate system the Philippine government is currently using. And I don't understand this bit "Espenilla said the peso's movements were market-driven, adding that the currency continued to draw support from the country's healthy macroeconomic fundamentals."

Please explain the article to me. Thank you, people.

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So, the article basically talks about a sudden fall in the value of the peso against the US dollar.

Market-driven, in this case, suggests that the peso is under a freely floating exchange rate system, but the article talks about intervention by the central bank to counter the volatility (sudden fluctuations), so this actually suggests a managed floating exchange rate system.

You can start by talking about the impacts of a highly volatile currency on the Philippines' economy and then possibly mention the ways the central bank could counter this and the effects of countering the volatile currency on international trade and macroeconomic health in the Philippines.

If it is still hard to understand, I recommend that you change your article 


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