Peso rebounds after falling to new intraday 10-year low against the US dollar
The peso fell to a new intraday ten-year low of P50.32 against the US dollar on Wednesday before rallying to close at P50.28.
The peso ended at P50.21 on Tuesday. Volume rose to $429.80 million from $389.8 million at the Philippine Dealing System.
Stocks closed lower, with the Philippine Stock Exchange index finishing down 41.39 points at 7,170.70. Volume reached 956.43 million valued at P5.2 billion. Foreign selling reached P3.6 billion while foreign buying amounted to P2.78 billion. DMS