Peso weakens on rising COVID-19 cases
The Philippine peso weakened against the US dollar on Wednesday due to rising COVID-19 cases.
On Wednesday, the peso closed at P48.60 per dollar, down 13 centavos from Tuesday's close of P48.48.
New infections reported on Wednesday reached 2,886, bringing the total case count to 603,308 with active cases at 44,470 and deaths at 12,545.
Ricafort from Rizal Commercial Banking Corp. attributed the peso's weakness to risk-off sentiment amid increasing infections.
More barangays have been placed under localized lockdowns as infection numbers rise.
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.