Philippine peso further weakens to 54.7 against US dollar


MANILA (Philippine Daily Inquirer/Asia News Network): The Philippines plunged further on Thursday (June 23) closing at 54.7 against the greenback, according to the Bank Association of the Philippines’ (BAP) foreign exchange summary.

This puts the local currency at its weakest since Nov 11, 2005, when the Philippine peso closed at 54.71 versus the US dollar.

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Philippines , peso , devaluation

   

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