Peso falls anew against US dollar to P62.565
｜英字
The Philippine peso fell for the fourth trading session vs the US dollar on Wednesday, closing at P62.565 from Tuesday's P62.4.
The peso hit an intraday low of P62.69 before losing a bit of ground . At the Bankers Association of the Philippines website, volume increased to $1.828 billion from the previous day's $1.3 billion.
The currency began its slide on August 28, on the day when the Bangko Sentral ng Pilipinas implemented a 25 basis points increase in its policy rate. It finished that day at P61.88
Analyst Jonas Ravelas said in a Facebook mesage to Philippines Shimbun the peso-dollar rate weakened '' as safe-haven demand lifted the greenback after oil prices rose amid renewed Middle East tensions.'' PHS
