Manila, Dec. 10 -- Malacanang on Wednesday said it is closely coordinating with the Bangko Sentral ng Pilipinas (BSP) and the country's economic team to address the peso's continued depreciation, after the local currency hit a new all-time low of PHP59.22 against the US dollar.

Palace Press Officer Claire Castro said the matter will be tackled in a meeting scheduled on Thursday.

"We are working with the BSP and the economic team. At bukas po magkakaroon sila ng meeting (We are working with the BSP and the economic team, and they will meet tomorrow)," she said when asked about the Palace's reaction to the peso's fresh record low.

The central bank's policy-making Monetary Board will also have its last rate setting for the year on Thursda...