Peso Down to PhP50 per US Dollar

The Philippine peso closed at P50 versus the dollar last February 17, the lowest level since the P50.12 recorded on November 16, 2006. It was also three centavos lower from the P49.97 a dollar finish the previous day. The local currency weakened over negative sentiment in external markets, market uncertainty about a March US Fed interest rate hike, and higher demand from corporations. The Bangko Sentral ng Pilipinas (BSP, central…

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