Peso closes at P50.50 vs $1, falls to new record


Posted at Jun 28 2017 04:40 PM

MANILA - The peso weakened to a 10-year low against the dollar on Wednesday, as the greenback strengthened against Asian currencies.

The peso closed at P50.50 against the dollar, from P50.29 on Tuesday. 

It weakened to P50.505 earlier in the trading day, its lowest since September 2006, according to Bloomberg, citing data from the Bankers' Association of the Philippines.

The peso was the second-worst performer in Asia on Tuesday after the Korean won. -- with a report from Reuters