Peso hits fresh 11-yr low at P51.77 to $1
Concerns in the United States provided a lift to the dollar at the expense of the local currency.
The peso slid to another 11-year-low on Wednesday, Oct. 25, as it closed at P51.77 versus the dollar. This has been the peso’s weakest point since ending at P51.87 to a dollar sometime in July 2006.
This is also the lowest point seen in 2017, beating the P51.53 finish on Oct. 19.
— Inquirer Business (@InquirerBiz) October 25, 2017
Bangko Sentral ng Pilipinas Governor Nestor Espenilla, Jr. said they expect the peso to move “up and down” during the day-to-day trading, but that the currency is expected to remain stable so far.