Philippine News Agency
Peso improves, stocks slip amid Covid-19
The Philippine peso strengthened against the US dollar on Wednesday, closing at 50.57 from 50.695 a day ago, buoyed by reports of a slowdown in new Covid-19 cases in China and an upgrade in Fitch Ratings' outlook for the Philippines.
Trading volume for the peso increased to USD813.67 million.
Despite the peso's gains, the Philippine Stock Exchange index (PSEi) declined by 0.76 percent, or 56.30 points, closing at 7,383.10.
All other stock market indices also closed in the negative, with the Industrial sector seeing the largest decline.
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