PSEi surges to 6,800, peso retreats after BSP cuts key rates

by Earl John Alfaro - Niña Myka Pauline Arceo

Aug 17, 2024 12:26 am

PHILIPPINE stocks ended Friday higher, surging past 6,800 points, while the local currency retreated back to the P57 per US dollar level following the Bangko Sentral ng Pilipinas' (BSP) decision to cut key rates on Thursday.

The benchmark Philippine Stock Exchange index surged 154.46 points, or 2.31 percent, to close at 6,847.37, and was also up by a solid 200 points week on week.

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