The currency weakened by 7 centavos to P58.65 against the dollar while the benchmark Philippine Stock Exchange index lost 7.13 points, or 0.11 percent, to end at 6,383.70 on Friday.The broader All Shares, on the other hand, added 0.14 percent, or 4.75 points, to 3,447.75. Philippine Stock ExchangeThe peso opened the day at P58.65:$1 and ranged from P58.555 to P58.69. Volume reached P1.078 billion, lower than the P1.318 billion recorded on Thursday.
'Uncertainty over the direction of the Philippine interest rates in the near term provided negative sentiment, following remarks of Finance Secretary Ralph Recto that the Bangko Sentral ng Pilipinas may only ease monetary policy after the Federal Reserve makes the first cut,' Alviar added.Luis Limlingan, managing director at Regina Capital Development Corp.
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