Peso hits over 2-year low; stock market extends rally

It was the currency's lowest close since the P58.94:$1 recorded on Oct. 20, 2022. That month was also when the peso hit an all-time low of P59 against the greenback.Rizal Commercial Banking Corp. chief economist Michael Ricafort said the peso weakened as the dollar continued to strengthen against the major global currencies.'The US dollar/peso exchange rate is also higher amid some geopolitical risk related to the Russia-Ukraine war lately,' he added.

The benchmark Philippine Stock Exchange index added 172.44 points, or 2.54 percent, to 6,975.63, while the broader All Shares gained 35.23 points, or 0.92 percent, to 3,847.41.Philstocks Financial Inc. research manager Japhet Tantiangco said 'the market was mainly driven by the reassurance from the Bangko Sentral ng Pilipinas that the Philippines' monetary policy is still in its easing phase with a possibility of a 100 basis points rate cut in total next year.

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

Continued peso decline weighs on stock marketTHE peso again fell versus the dollar on Tuesday, limiting gains at the stock market as investors continued to await fresh corporate earnings results.
स्रोत: TheManilaTimes - 🏆 2. / 92 और पढो »

Stock market up, peso slumpsThe Philippine stock market inched up Tuesday amid tepid trading as investors stayed on the sidelines while waiting for fresh catalysts. The 30-company
स्रोत: MlaStandard - 🏆 20. / 55 और पढो »

Peso slightly higher; stock market gains on inflation newsTHE peso edged up on Tuesday and the stock market surged in the absence of an October inflation surprise.
स्रोत: TheManilaTimes - 🏆 2. / 92 और पढो »

Peso, stock market open week lowerRising tensions in the Middle East were said to have weighed on the peso on Monday and the stock market also fell as investors awaited third quarter earnings results.
स्रोत: TheManilaTimes - 🏆 2. / 92 और पढो »