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Global economy feels the pinch
A strong US dollar often means other currencies are weakening. This makes it harder for countries like the Philippines to afford essential imports, as they need more of their local currency to buy dollars. It can also make their dollar-denominated debts more expensive to repay, slowing global economic growth.
Stories that explain this
Philippine peso hits record low against the US dollar US central bank expected to raise interest rates by a quarter on WednesdayRelated explainers
Why your holiday costs more Why interest rates matter Your loan payments go up Your savings might shift Stronger dollar, weaker pound Why things cost more UK import prices could rise UK interest rates might followThe full catalogue
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