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