The local unit closed at P52.475 per dollar on Monday, shedding 18.5 centavos from its P52.29 finish on Friday, based on Bankers Association of the Philippines data. READ:
nish on Friday, based on Bankers Association of the Philippines data.
The peso opened Monday’s session at P52.32 per dollar, which was also its intraday best. Meanwhile, its weakest showing was at P52.49 against the greenback.Mr. Ricafort said the peso’s weakness renancial markets amid the Russia-Ukraine conflict. This was also the case for the local stock market, as the Philippine Stock Exchange index plunged by 295.24 points or 4.15% to 6,816 on Monday. The wider all shares index dropped by 126.97 points or 3.36 points to 3,638.49.
Meanwhile, a trader in an e-mail said there was cautious sentiment in the market ahead of the Federal Open Market Committee’s two-day meeting which starts on Tuesday.
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