Peso closes at new record low of 61.75:$1

MANILA, Philippines — The Philippine peso fell to a fresh record low against the US dollar on the first trading day of the week, as expectations of interest-rate increases from major central banks strengthened the greenback. The local currency weakened by 2.9 centavos to close at 61.75 per dollar, matching the intraday low and surpassing the previous record low of 61.721 set in the prior session, data from the Bankers Association of the Philippines showed. Trading volume eased to $1 billion from $1.2 billion in the previous session. “The peso reached a new record today as market participants anticipate a clearer […]... Keep on reading: Peso closes at new record low of 61.75:$1

Original source: Philippine Daily Inquirer