The currency strengthened by 10 centavos to P58.58 against the dollar while the benchmark Philippine Stock Exchange index shed 0.30 percent, or 19.24 points, to close at 6,390.83.The broader All Shares lost 7.05 points, or 0.20 percent, to 3,443.00.The peso opened at P58.48:$1 and ranged from P58.47 to P58.69. Volume rose to P1.318 billion from Tuesday's P1.05 billion.Michael Ricafort, chief economist at Rizal Commercial Banking Corp.
Marcos , stating that inflation remains as a main concern due to uncontrollable forces, tempered rate cut hopes despite it staying within the government's target range,' Plopenio added.'The said factors resulted in the bourse closing below the 6,400 support level.'Luis Limlingan, managing director of Regina Capital Development Corp.
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