Philippine peso, stocks sink further

MANILA, Philippines – The Philippine peso continued to weaken on Wednesday, September 26.

The local currency closed at P54.325 against the United States dollar, even lower than the P54.31 posted on Tuesday, September 25.

Meanwhile, only the properties sector recovered in the Philippine Stock Exchange (PSE).

Properties managed to stay in the green, gaining 1.68%. 

The PSE index (PSEi) sinked further, now at 7,268.21, 0.87% lower than Tuesday's close.

 

All the sub-indices remained in the red.

The peso and local bourse remained weak despite markets expecting the Bangko Sentral ng Pilipinas to raise interest rates for the 4th time this year.  Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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