Peso dips to P50.67 against US dollar

July 6, 2017

The peso closed at a new near 11-year low of P50.67 against the US dollar on Thursday. The Philippine currency hit an intraday low of P50.69 against the greenback after opening at P50.53, higher than Wednesday's close of P50.60. The peso last reached near these levels on Sept 4, 2006 when it closed at P50.755. Volume declined to $429.9 million from the previous day's $507 million at the Philippine Dealing System. The Philippine Stock Exchange index closed 39.47 points higher to 7,888.31, up 39.47 points. In the broader market, there were 107 gainers, 95 decliners and 54 unchanged. Volume declined to $429.90 million from the previous day's $507 million. The Philippine Stock Exchange index closed 39.47 points higher t 7,888.31 as foreigners were net buyers. Volume reached 1.26 billion shares valued P7.48 billion. Foreigners bought P3.71 billion worth of shares and sold P3.2 billion. Among gainers were Swift Foods Convertibles, up 17.50 percent to P2.35 and Manila Broadcasting Co, up 13.66 percent to P16.48. PLDT led the most actively traded shares as it closed 0.34 percent to P1,761 and Metrobank, up 1.88 percent to P89.50. DMS