Peso breaches P53 to $1
The currency dropped to another low.
The peso weakened anew to pierce P53 versus the US dollar on Wednesday, June 13. The peso depreciated from P52.95 to $1 on Monday and opened at P53 flat.
The currency went on with the depreciation trend within the day to log a new low in nearly 12 years.
Overseas Filipino workers and exporters will be happy, but not importers and those eyeing foreign travels or purchases from abroad.