Peso slips to near 11-year low of P52.12:$1

February 14, 2018

The peso closed at a near 11-year low of P52.12 against the US dollar on Wednesday from the previous day's P51.98. The Philippine currency opened at P52.03 before settling at what turned out to be the closing value. Volume at the Philippine Dealing System reached $939.90 million from Tuesday's $1.023 billion. The Philippine Stock Exchange index gained for the second straight day but the market's breadth was negative. The index finished at 8,598.11 points, up 27.97 points. In the broad market, there were 124 decliners, 85 gainers and 50 issues unchanged. Volume reached 1.8 billion shares worth P8.9 billion from Tuesday's 1.8 billion shares valued at P7.67 billion. Foreigners were net sellers for the 14th session, with P3.32 billion worth of stocks sold while P 2.6 billion were bought. Among most traded shares were Now Corp., up 49.12 percent to P15.30; Ayala Land, up 3.2 percent to P45.10, Metro Pacific, down 8.65 percent to P5.60 and Jollibee, up 0.36 percent to P278. DMS