Peso hits 11-year low P51.60 intraday, closes at P51.35 vs US dollar

August 16, 2017

The peso slumped at an 11-year low of P51.60 during intraday trading before it rallied in the afternoon session to close at P51.35 against the US dollar on Wednesday.

The peso, which last hit at this level on August 3, 2006 at P51.581, finished at P51.34 on Tuesday.

After the peso climbed to P51.514 in the morning session, it slipped in the afternoon as it averaged at P51.367. The volume during this period, reached $425 million, or close to half of the day's transaction of $824.70 million at the Philippine Dealing System.

The Philippine Stock Exchange index closed 37.18 points higher to 8,046.59 points. Volume reached 1.54 billion shares worth P12.74 billion. Foreigners were net buyers, purchasing P3.41 billion of shares compared to selling P3.37 billion.

Most active shares were led by Jollibee Corp., up 6.22 percent to p239 and Megaworld, up 1.63 percent to P498. DMS