Peso hits 15-year low of P54.66 against the US dollar before market closes

September 7, 2018

The Philippine peso plunged to a low of P54.66 against the US in morning trading on Friday, less than two hours before it closes transactions.

This was the lowest level the peso declined since P54.95 in July 2003.

Central bank governor Nestor Espenilla Jr said the Bangko Sentral ng Pilipinas " will take all actions necessary to deal with speculative activity by market participants," according to a news report.

The peso closed at P53.80 on Thursday. a day after August inflation climbed to a higher-than-expected 6.4 percent. DMS