Friday 16 November
Powered by Ajaxy
Sep 12, 2018 @ 17:11

Peso now at P54:$1


A fresh 12-year low has been breached.

The Philippine peso continues to take a beating on Wednesday, Sept. 12 as it closed at P54.13 against the dollar, marking the weakest since December 2005.

The local currency depreciated coming from the previous day’s closing rate of P53.94, and even touched P54.14 as its worst showing for the day. This comes a day after the release of external trade data, which bared a wider deficit due to ballooning imports.

Meanwhile, exports of Philippine-made products stood flat versus last year in July, according to the Philippine Statistics Authority.

Overseas Filipino workers win but local producers and consumers lose in this scenario.

Please follow and like us:

Tags: ,

Related Stories
The government said they are seeing some signs of easing in prices.
Is it because the prices of the siling labuyo are at a record high?
The Philippine Statistics Authority has decided to hold competitive bidding for the proposed national identification


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.