Higher remittances lift peso, stock market

By Eireene Jairee Gomez

Nov 16, 2022 12:31 am

THE peso snapped a two-day losing streak and the stock market also rallied to a near two-month high on Tuesday, buoyed by a rise in money sent home by Filipinos working abroad.

The currency gained seven centavos to close at P57.21 to the dollar, while the benchmark Philippine Stock Exchange (PSEi) added 64.18 points, or 1.01 percent, to close at 6,418.94.

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