PH peso sinks to near 8-year low of P49.20 to $1

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The November 14 closing is the Philippine peso's weakest level against the US dollar since December 4, 2008
By Chrisee Dela Paz
Published: Mon, Nov 14, 2016 7:00 PM


MANILA, Philippines â€" The Philippine peso dropped to an almost 8-year low against the US dollar after the Federal Reserve minutes pointed to a rate hike "relatively soon."

On Monday, November 14, the local currency ended at P49.20:$1, 25 centavos weaker from P48.95:$1 on Friday, November 11.

It was the peso's weakest level against the US dollar since December 4, 2008, when it closed at P49.370:$1.


More at: http://www.rappler.com/business/152349-philippine-peso-dollar-near-8-year-low