The Philippine peso continued to prove its strength against the US dollar as it remains among the least volatile in the region, a government press release said.

Its year-to-date volatility against the US currency stood at 1.29 percent, the second most stable after the Chinese yuan at 0.08 percent.

Third from the top is the Taiwan dollar at 2.11 percent followed by the Malaysian ringgit, 2.12 percent; Thailand baht, 2.19 percent; Singapore dollar, 2.74 percent; Japanese yen, 3.46 percent; Korean won, 7.21 percent, and Indonesian Rupiah, 7.51 percent, the press release said.

Farmers get
P250,000 assistance

Gov. Isidro Zayco presented P250,000 as assistance to young farmers of 4-H Club Development Program, at the Capitol yesterday, a press release said.

The funds came from the Agricultural Training Institute–Regional Training Center 6, in collaboration with the Department of Agriculture Regional Field Unit 6 and the provincial government of through the Farm Home Extension Services of the Home Management and Nutrition Division, Office of the Provincial Agriculturist.

Each of the five identified 4-H Club recipients got P50,000 to support their Integrated Farming System Project.

‘Give them cash'

It is better for the government to put money in the pockets of consumers than intervene in market prices, a government press release said.

Albay Governor Joey Salceda, one of President Gloria Macapagal-Arroyo's economic advisers, said price controls have never proven to be correct.

In a press briefing in Malacañang this morning, the governor shot down proposals to repeal the Oil Deregulation Law. He also said it is not good for government to run private business.

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