Peso closes at P50.65 against US dollar

July 14, 2017

The peso declined by 12 centavos to close at P50.65 against the US dollar on Friday, capping a week where the Philippine currency hit near 11-year lows. Central bank governor Nestor Espenilla Jr and Budget Secretary Ben Diokno said this week there was nothing to fear from the peso's weakness. Volume at the Philippine Dealing System reached $379.45 million from Thursday's $372.50 million. The Philippine Stock Exchange index closed 50.95 points lower to P7,885.90. At the broader market, there were 104 decliners and 94 gainers while 54 were unchanged. Foreigners were net sellers, with P779.5 million tallied from selling of P4.467 billion and buying of P3.688 billion. Volume reached 2.51 billion shares worth P7.48 billion. Gainers were led by Bogo-Medellin Milling Corp rose 40.74 percent to P190 and Panasonic Manufacturing Philippines, up 17.76 percent to P8.36. Most active shares were led by Banco de Oro, down 0.80 percent to P123.50 and SM Prime down, 1.79 percent to P33. DMS