Peso falls to new all-time low vs dollar anew
｜英字
The peso slipped once more to a new all-time low against the US dollar, ending the week at P62.59 on Friday, the Bankers Association of the Philippines website said.
It was lower than the previous low set of P62.52 against the US dollar on Thursday.
Michael Ricafort, chief economist of RCBC, said the dollar's decline was due to imports by companies to meet demand for Christmas. He told ANC that once remittances from overseas Filipino workers arrive in the last quarter, the peso will start to improve.
Volume reached $1.521 billion from Thursday's $1.552. PHS
