Peso dips to P45, 46:$1

By Czeriza Valencia

THE peso on Tuesday shed 21 centavos to close at P45.46 from Monday’s close of P45.245 after a correction in the market occurred following the local currency’s sharp appreciation the previous day.

“I think there was a correction…after [Monday’s] unloading of dollars. It’s an exaggerated correction. The general trend is still on the downside. The market is still volatile and people are cautious,” Security Bank treasurer Rafel Algara said.

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Peso dips to P45, 46:$1

THE peso on Tuesday shed 21 centavos to close at P45.46 from Monday’s close of P45.245 after a correction in the market occurred following the local currency’s sharp appreciation the previous day.