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Peso slips by four centavos; PSEi plunges to 6,500 level

THE peso resumed weakening on Thursday as the stock market plunged to an over three-month low.

The currency closed at P58.777 to the dollar, down by four centavos, and the Philippine Stock Exchange index (PSEi) shed 157.24 points, or 2.34 percent, to end the day at 6,557.09.