Economist and professor Emmanuel Leyco warned that the weakening peso and rising global oil prices are hitting Filipinos with a “double whammy,” driving up the cost of living.

In an exclusive interview on DZRH Balansyado on Thursday, March 19, Leyco explained, “Kapag tumaas ang presyo ng petrolyo at sabayan pa ito ng pagdausdos ng halaga ng piso kontra dolyar… mas marami pong piso ang kailangan natin para makakuha ng dolyar.”

He added that this combination makes imported fuel more expensive, resulting in higher prices for transportation and basic goods.

While overseas Filipino workers (OFWs) may initially benefit from higher remittance values, Leyco noted that this advantage is short-lived.

“Magkakaroon po ng inflation… hindi po maganda ang magiging epekto niyan sa kalaunan,” he said, warning that rising prices will eventually offset gains experienced by families receiving dollar remittances.

He also said the Bangko Sentral ng Pilipinas may intervene to stabilize the peso, but with limitations.

“Ang intervention ng Banko Sentral ay limitado rin… maaaring bumaba ang presyo ng dolyar pero magiging speculative ang palitan,” he explained, cautioning against market instability.