Peso weakens to P49 level on manufacturing data, virus concerns
The Philippine peso weakened to P49.11 per dollar on Thursday, its weakest close since July 2020, due to improved local manufacturing data and concerns over the Delta variant of COVID-19.
On Wednesday, the peso closed at P48.80 per dollar, down from Tuesday's close of P48.50, driven by month-end demand for dollars and virus worries.
Tuesday saw the peso strengthen to P48.50 per dollar as Metro Manila remained under looser quarantine measures until mid-July, boosting economic reopening prospects.
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