Peso dips to new near 11-year low of P50.87, closes at P50.53 against US dollar

July 11, 2017

The peso wobbled to a new 11-year low of P50.87  against the dollar in morning trading before it rallied to close at P50.53 versus the greenback on Tuesday. The closing figure was stronger than Monday's close of P50.595. Volume at the Philippine Dealing System rose to $629.10 million from the previous day's $438.8 million. The Philippine Stock Exchange index closed 20.67 points higher to 7,858.14.  But in the broader market, there were 118 decliners, 86 gainers and 50 unchanged. Volume reached 1.54 billion shares worth P7.1 billion. Among gainers were PTFC Development Corp., up 29.83 percent to P38.95 and Ionics, Inc up 13.97 percent to P2.04. Most active shares included Filinvest Land, up 3.3 percent to P1.88 and Metrobank, up 0.85 percent to P94.95. DMS