Middle East concerns weigh on peso, stocks

By The Manila Times

Apr 20, 2024 12:31 am

THE peso hit a new 17-month low while the stock market dropped back to the 6,400 level on Friday as reported explosions in Iran fanned concerns about an escalation of the Middle East crisis.

The currency weakened by 46 centavos to P57.65 against the dollar, its worst close since Nov. 10, 2022's P29.19:$1 and extending a losing streak to seven days.

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