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| Philippine President Rodrigo Duterte |
MANILA, Sept. 27 (Xinhua) -- Philippine President Rodrigo Duterte on Tuesday accused the United States of "undermining" the Philippines economy and causing the Philippine peso to tumble against the U.S. dollar.
"The Americans are undermining us now. They are manipulating ...the peso weakened," Duterte said in a speech at the Philippine marine headquarters in Taguig.
The Philippine peso hit a seven-year low on Monday, closing at 48.25 to a dollar, the weakest since the close of 48.335 on Sept. 15, 2009.
Duterte told the marine troops that "the Americans are bullying the Philippines," adding that the U.S. has disrespected the Philippines.
The Philippines is a treaty ally of the U.S., with Manila depending too much on the U.S. for military and other assistance.
Read the full story at Xinhua