Peso drops to 16-year low at P55:$1

By Mayvelin U. Caraballo

Jun 30, 2022 12:24 am

THE Philippine peso experienced its worst day in 16.5 years on Wednesday, dropping to P55 to the United States dollar.

The local currency lost 29 centavos from the previous day's closing price of P54.77 to reach $55.06:$1. It has not been this soft since Oct. 27, 2005, when it closed at 55.08:$1.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Auto sales steady in August

BSP expected to cut reserve requirement

PEZA approves P16.2B in projects

Tiu Laurel cautiously upbeat on agri output

SEC vows to maintain ownership transparency

PH emerging leader in digital payments

Study tags top worries of young Filipinos