The peso matched its all-time low of P56.45 against the US dollar Tuesday afternoon before recovering to close at P56.37.

On Monday, the peso closed at P55.979 against the US dollar. Volume at the foreign exchange portal of the Bankers Association of the Philippines surged from $804.6 million to $1.388 billion.

The all-time low of P56.45 was reached on October 14, 2004. The closing value of P56.37 was last reached on November 5, 2004.

The Philippine Stock Exchange index ended 38.70 points lower to 6,349.94.

In the broader market, there are 105 declines, 82 advances and 49 unchanged.

Volume reached 955.85 million shares worth P4.19 billion from Monday's 775.46 million shares valued at P3.75 billion.

Most active shares were led by Semirara Mining and Power Corp., up P1.10 to P38; Ayala Land, down 20 centavos to P25.25; ICTSI, down P5.40 to P184 and SM Investments Corp., down P25 to P 813. DMS