Peso slips to 12-year intraday low of P52.755:$1 before closing at P52.60

May 30, 2018

The peso slipped into a new 12-year intraday low of P52.755 against the US dollar in morning trading Wednesday but rallied to close 15 centavos higher.

At the Bankers Association of the Philippines website, the peso finished at P52.60, only shade higher from Tuesday's P52.64. Volume declined from Tuesday's $712.05 million to Wednesday's $686 million.

Stocks finished below a few mark, as the Philippine Stock Exchange index ended 132.22 points lower to 7,470.14. In the broader market, there were 132 decliners, 56 gainers and 49 stocks unchanged.

Volume reached 926 million shares valued at P7.36 billion from Tuesday's 1.15 billion shares worth P6.11 billion. Foreigners were net sellers with P4.96 billion sold and P3.75 billion bought. DMS