By MB Online
The peso and stock market both declined on the last day of the trading week, with the peso hitting P50 against the US dollar on Friday, February 17.
The Philippine peso–US dollar exchange rate at the Philippine Dealing and Exchange Corporation (PDEX) closed at P50.00, weaker than Thursday’s (February 16) rate at P49.97.
At the Bangko Sentral ng Pilipinas (BSP), the peso settled at P49.92 to the greenback.
Meanwhile, the 30-share Philippine Stock Exchange Index (PSEi) dropped 38.46 points (0.53%) to close at 7,244.79 points while the All-Shares index also went down by 13.78 points (0.31%) to end at 4,388.01.