MANILA — The peso fell to a near two-year low of P58.27 against the dollar on Tuesday (21 May 2024), attributed to delays in interest rate hikes and ongoing geopolitical concerns.
The last instance the peso breached the P58 level was on November 8, 2022, closing at 58.275 against the greenback.
According to data from the Bankers Association of the Philippines (BAP), the peso dropped by 38 centavos from its previous value of P57.9.
The trading day opened with the peso at P57.97:$1, fluctuating between P57.97 and P58.28.
Trading volume reached P1.620 billion, surpassing the P1.206 billion recorded in the previous session.
(By el Amigo/MNM)
