In a statement, Elizabeth Lee, chairman of the Federation of Philippine Industries, said a weaker peso increases the value of foreign revenues for exporters.
MANILA, Philippines — The peso reached a low P60.4.$1 as of morning trading on Thursday.. The peso opened at P59.9.$1 and ranged from P59.9 to P60.4 ....
he peso plunged past the key 60-per-dollar level for the first time in history yesterday, closing at a new record low as strong dollar demand, elevated oil prices and geopolitical tensions continued to weigh on the local currency ....
The local stock market’s two-day winning momentum was cut short amid the prevailing uncertainty in the Middle East coupled with the depreciation of the peso against the dollar ....
(UPDATE) MANILA, Philippines — The peso hit a new record low of P60 against the greenback on Thursday amid geopolitical risks and a stronger US dollar.