Exporter of carageenan belonging to the Seaweed Industry Association of the Philippines (Siap) asked to government's assistance to stabilize the foreign-exchange rate after the peso reached the P43-to-$1-mark. Siap president Benson U. Dakay sent a letter to President Benigno Aquino III which effectively urged the Bangko Sentral ng Pilipinas to follow the foreign-exchange rate policy of China. "The [relatively stable] Chinese yuan is making it hard for exporters like us to compete with China," said Dakay in a telephone interview.

Ng, J. A. (2010, September 16). Seaweed exporters want govt to intervene in ₱-$ exchange rate. Business Mirror, p. B4.