The peso returned to the P52:$1 level while the stock market dipped on Tuesday, with the surprise appointment of Budget Secretary Benjamin Diokno as the new Bangko Sentral ng Pilipinas governor said to be a factor.
The currency, which opened at P51.80 against the greenback and dropped to as low as P52.26 during the day, closed down 52 centavos at P52.24:$1, its lowest since a P52.33:$1 finish on February 18.
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