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Oct 25, 2017 @ 17:48

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.

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.

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