Business

Peso plunges to new record low of P62.4:$1

The Manila Times 01 Sep

Philippines

Peso plunges to new record low of P62.4:$1 — Sources: The Manila Times

THE peso sank to a new all-time low of P62.40:$1 on Tuesday as the dollar continued to strengthen amid expectations of a Federal Reserve rate hike later this month and an escalation of hostilities in the Middle East. The currency weakened by 13 and a half centavos from the previous record low of P62.265 hit last Friday. It opened the week — Philippine financial markets were closed Monday for

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Peso plunges to new record low of P62.4:$1

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