THE peso fell to its lowest in nearly 19 months on Wednesday, weakening by 45 centavos to P58.42 against the dollar as the stock market also fell further to the 6,400 level.
The currency's close was the lowest since Nov. 7, 2022's P58.58. It had hit an over 18-month low of P57.27:$1 a week ago.It opened at the day's low of P58.07:$1 and traded as high as P58.51. Volume reached P1.399 billion, up from P1.244 billion in the previous session.'The peso weakened after the local stock market gauge, the PSEi , declined for the 4th straight day,' Rizal Commercial Banking Corp. chief economist Michael Ricafort said.The PSEi shed 89.93 points, or 1.
, said 'sentiment was dampened by the latest Monetary Policy Report, which stated that the Bangko Sentral ng Pilipinas sees the Philippines' economic growth to miss the government's target in 2024 and 2025 due to the impact of high interest rates.'Regina Capital Development Corp.
Back At P58:$1 Psei Falls To 400
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Peso rebounds, but still at P58:$1 levelLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Peso slips to P58:$1 levelLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Weaker peso could keep weighing on PSEiINVESTORS are expected to continue keeping an eye on the peso, which last week dampened sentiment in the stock market after plunging to its lowest point in almost two years.
Read more »
Peso regains ground but PSEi drops anewTHE peso strengthened on Wednesday, but remained at the P58 to the dollar level, and concerns over its direction continued to weigh on the stock market.
Read more »
Boxer Madness 5: Over 400 Subaru vehicles gather for epic meetSubaru Club Philippines celebrates Boxer Madness 5 at Parqal Mall in Aseana City
Read more »
Yamaha PG-1 officially launched in PH with P96,400 price tagYou want one? We want one
Read more »