(UPDATE) Peso closes at P51.34:$1, stock index breaches 8,000 pts

August 15, 2017

The peso fell to a near 11-year low of P51.34 against the US dollar on Tuesday after hitting an intraday low of P51.35. This is the lowest level for the peso since it closed at P51.31 on August 29, 2006. The Philippine currency closed at P51.08 on Monday. In the morning session, the peso slumped to P51.22 before ending at P51.18 before noon break. Volume at the Philippine Dealing System surged to $659.03 million, surpassing Monday's volume of $291.50. However, the Philippine Stock Exchange index closed 47.29 points higher to 8,009.41. In the broader market, there were 121 gainers, 82 decliners and 44 unchanged. Volume reached 938.03 million shares worth P4.79 billion. Foreigners were net buyers, purchasing P2.19 billion compared to selling of P1.99 billion. Most active shares included Security Bank,up 0.78 percent to P258, Megaworld Corp up 1.45 percent to P4.90 and  Energy Development Corp., up 1.17 percent to P6.90. DMS