Peso dips to P50.735:$1, stocks down

July 24, 2017

The peso weakened to P50.735 against the US dollar Monday from P50.710 on Friday. Volume declined to $284.9 million from the previous $P50.71 at the Philippine Dealing System. The Philippine Stock Exchange index closed 27.09 points lower to 7,962.64. In the broader market, there were 109 decliners, 100 gainers and 50 issues unchanged. Volume turnover amounted to 2.71 billion shares worth P5.85 billion, Foreigners were net buyers with buying of P2.95 billion and  selling at P2.87 billion. Most active shares included Metrobank, whose stock price rose 1.27 percent higher to P88. Metrobank reported the discovery of a multi-million internal fraud and the arrest of a suspect last Friday. DMS