Philippine peso breaches P53 to $1 level, falls to 12-year low

MANILA, Philippines – The Philippine peso has breached the P53 to $1 level, falling to a 12-year low as markets anticipated the US Federal Reserve to announce another interest rate hike.

The peso closed at P53.23 on Wednesday – its weakest level since closing at P53.55 to $1 on …
Source: Politics