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Peso exchange rate breaches P54:$1; stocks down


By MB Online

The peso slipped to a 12-year low against the dollar on Wednesday, as the local bourse also continued its slide.



The Philippine peso–US dollar exchange rate at the Bankers Association of the Philippines closed at P54.13, weaker than Monday’s rate (September 11) at 53.94.

This is the peso’s weakest since closing at 54.155 last December 2, 2005.

At the Bangko Sentral ng Pilipinas (BSP) reference exchange rate bulletin, the exchange rate settled on P53.92 to the greenback.

The Philippine Stock Exchange Index (PSEi) also slipped rose by 68.81 points (0.92%) to close at 7,449.20.

The all-shares index likewise fell by 20.12 points (0.44%) at 4,577.16.

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