Peso continues record fall, hits 63.8:$1
MANILA, Philippines — The Philippine peso’s record slide continued on Monday as markets focused on the upcoming US Federal Reserve meeting.
The local currency fell to an intraday low of 63.8 as of 9:33 a.m. after it opened at 63.535, data from the Bankers Association of the Philippines showed.
READ: Peso logs fresh record low of 63.615:$1
This surpassed the previous record low of 63.62.
The Fed will decide on US monetary policy on Oct. 27 and 28, with the Federal Open Market Committee widely expected to hold interest rates steady. /pai
READ: If currency falls to ₱65 per dollar, what happens to Cebu’s economy?
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