Peso falls further; PSEi slumps 2.1%

By The Manila Times

Nov 08, 2024 12:27 am

THE peso continued to weaken on Thursday and the stock market also plunged as investors reacted to a sharper-than-expected economic growth slowdown and Donald Trump's winning the US presidential elections.

The currency weakened by 6.9 centavos to P58.73 against the dollar, while the benchmark Philippine Stock Exchange index (PSEi), which hit an intraday low of 6,923.99, ultimately shed 150.98 points, or 2.11 percent, to end the day at 7,014.44.

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