Peso closes at new record low of P56.77:$1
The Philippine peso closed at a new record low of P56.77 against the US dollar on Friday after falling to P56.90 during intra-day trading.
The former all-time low of the peso against the US dollar was P56.45 set in October 14, 2004. On Thursday, the peso closed at P56.42.
The peso opened at P56.50 before hitting P56.90.
Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $936.95 million from Thursday's $1.087 billion.
The Philippine Stock Exchange index (PSEi) gained 104.37 points to end at 6,692.65.
Volume amounted to 1.02 billion shares worth P4.59 billion from Thursday's 635.98 million valued at P5 billion.
In the broader market, there were 116 advances, 68 declines and 47 unchanged.
Actively traded shares were led by BDO, down P2.70 to P127.80; Jollibee Foods Corp., up P6 to P245.80; Emperador Inc., up 99 centavos to P20.85 and SM Prime, up five centavos to P36.50. DMS
