Peso breaches P53:$1 level
THE Philippine peso continued to weaken on Wednesday, breaching the P53.09:$1 level in morning trade.
The local currency opened at P53 to the dollar, five centavos weaker than the closing rate of P52.95:$1 on Monday.
Analysts said earlier this week that geopolitical developments and worries over an expected US interest rate increase announcement were weighing down the local currency. MAYVELIN U. CARABALLO
The post Peso breaches P53:$1 level appeared first on The Manila Times Online.