Peso drops; stock market gains

By The Manila Times

Feb 06, 2024 12:32 am

THE peso fell back to the P56:$1 level, but the stock market continued to rally ahead of today's release of January inflation data, widely expected to show a continued easing that could support the case for lower interest rates.

The currency weakened by 37 centavos to P56.29 against the dollar, while the benchmark Philippine Stock Exchange index (PSEi) climbed by 20.97 points, or 0.31 percent, to 6,728.22.

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