Peso back in P55:$1 territory; stock market snaps 4-day rally

By The Manila Times

Sep 12, 2024 12:28 am

THE peso is back at the P55 level, closing stronger against the greenback on Wednesday, but the stock market slipped as investors awaited US inflation data seen underpinning the result of next week's Federal Reserve policy meeting.

The currency strengthened by 41 centavos to P55.975 while the benchmark Philippine Stock Exchange index (PSEi) — which again hit an intraday high in 7,000 territory — shed 39.75 points, or 0.57 percent, to end the day at 6,944.88.

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