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Peso closes at new 10-year low
The peso slumped to a new 10-year low on Monday, with the currency settling at P50.27 against the US dollar at the Philippine Dealing System.
The peso fell to an intraday low of P50.295 before closing at P50.27. On Friday, the peso closed at P50.215. Volume reached $366. 60 million from Friday’s $415.3 million.
The peso touched these levels last on Sept 26, 2006 when it was at P50.32.
Stocks closed lower on the penultimate trading of the month of February.
The Philippine Stock Exchange index finished 26,52 points to 7,232..47. Volume remained below one billion shares as turnover reached 826.84 million worth P4.39 billion.
On Friday, volume amounted to 976.48 million valued at P6.40 billion.
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Foreign selling reached P2.1 billion while foreign buying was at P1.97 billion. DMS
