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Jun 13, 2018 @ 17:54

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.

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