THE peso and stock market fell anew on Tuesday with sentiment said to have fallen ahead of a US Federal Reserve policy meeting.
The currency weakened by 13.4 centavos to P58.645 against the dollar, while the benchmark Philippine Stock Exchange index shed 42.87 points, or 0.64 percent, to 6,606.36 at the end of the day.The broader All Shares also fell, by 17.56 points or 0.49 percent, to 3,587.77.The currency opened trading at P58.6:$1 and ranged from P58.58 to P58.695. Volume rose to P1.229 billion from P924 million in the previous session.Rizal Commercial Banking Corp.
''Many are cautious ahead of the policy decisions of the Bank of Japan and the Federal Reserve, which are set this week,' he added.'The Department of Budget and Management's projection that the national debt will increase by 8.08 percent year on year to P17.35 trillion by end-2025 weighed on the sentiment,' he continued.Regina Capital Development Corp.
Psei Down Anew Investor Worries Tagged
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