Buenaventura: Politics putting pressure on peso

The Philippine currency is two to three pesos lower in value against the US dollar than it should be due to political uncertainty, central bank chief Rafael Buenaventura said Monday.

"We're paying a two- to three-peso political premium" due to the uncertainty over the presidential election on May 10 and the dispute over President Gloria Macapgal-Arroyo's victory in that election for weeks afterwards, Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas said.

"We are still paying for

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