Peso drops to P55:$1; PSEi falls below 6,900

by Ed Paolo Salting - Niña Myka Pauline Arceo

Feb 08, 2023 12:48 am

THE peso fell back to the P55:$1 level, and the stock market also dropped below 6,900 after higher-than-expected January inflation spooked traders.

The currency weakened by 69-and-a-half centavos to close at P55.085 vs the dollar while the benchmark Philippine Stock Exchange index (PSEi) lost 55.35 points, or 0.80 percent, to end the day at 6,881.26.

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