Peso falls to eight-month low, stocks gain slightly
The Philippine peso slipped to an eight-month low, closing at 47.890 to one US dollar from Tuesday’s 47.845. The currency last neared 48:$1 on January 26, 2016 when it finished at 47.995 to one dollar.
The Philippine Stock Exchange composite index ended 3.70 points higher at 7,675.42 as investors waited for Thursday’s US Federal Reserve meeting.
More than 1.110 billion shares, valued at P7.392 billion, were traded. Advancers led decliners, 105 to 82, and 54 issues were steady. Selling by foreign funds abated slightly, with 4.352 billion pesos worth of shares sold against 4 billion pesos bought. DMS