PSEi back at 6,300; peso hits P58.71:$1

📆 6/4/2024 5:15 PM
📰 TheManilaTimes

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Back,At,300

THE stock market fell back to the 6,300 level on Tuesday, and the peso also hit a new 19-month low following renewed worries about inflation and key interest rates.

The benchmark Philippine Stock Exchange index Governor Eli Remolona's statement about the potential for cutting the benchmark rate ahead of the Federal Reserve.

''This suggests ongoing pressure on the PHP against the dollar, given expectations that US rates will remain elevated for a longer period,' he added.All sector indices ended the day in the red, with holding firms down the most by 2.50 percent.Decliners outnumbered advancers, 128 to 80, while 32 were unchanged.

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Peso back at P58:$1; PSEi falls to 6,400THE peso fell to its lowest in nearly 19 months on Wednesday, weakening by 45 centavos to P58.42 against the dollar as the stock market also fell further to the 6,400 level.
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