Peso ends at near 11-year low of P50.52 against US dollar
The peso closed at a near 11-year low of P50.52 against the US dollar after hitting an intraday low of P50.58 on Tuesday.
The Philippine currency finished at P50.545 against the greenback on Monday.
Volume at the Philippine Dealing System went up from the previous day’s $395 million to $540.3 million.
Stocks also ended lower. The Philippine Stock Exchange index lost 32.56 points to close at 7,833.96. At the broader market, there were 109 gainers, 84 decliners and 41 remaining steady.
Volume reached 1.52 billion shares worth P4.74 billion. Foreigners were net sellers with p2.02 billion compared to buying amounting to P1.51 billion.
Most active shares were led by Meralco, up 1.67 percent to P267 and DMCI Holdings, up 1.4 percent to P14.50. DMS