Peso slumps to new record low vs dollar
｜英字
The peso slumped to a new record low on Thursday against the US dollar as the Philippine currency lost ground in afternoon trading.
According to the Bankers Association of the Philippines website, the peso settled at P61.88 against the US dollar from the previous historic low of P61.847 on July. It closed at P61.65 on Wednesday,
Volume reached $1.789 billion from Wednesday's $1.9 billion.
In afternoon trading, the peso averaged at P61.799 against the US dollar as transcations rose to $994.89 million.
The peso's decline took place as the Bangko Sentral ng Pilipinas announced an increase of 25 basis points in its policy rate to five percent. PHS
