Peso strengthens vs USD, PSEi drops
The Philippine peso strengthened against the US dollar on Wednesday, closing at 49.85 from 49.95 on Tuesday.
Stocks declined with the PSEi dropping by 2.19 percent to 6,439.37 points due to anticipations of the Federal Open Market Committee (FOMC) meeting results.
On Monday, the PSEi rose by 0.76 percent to 6,514.00 points while the peso weakened to 49.9 from 49.8 on Friday.
Volume in stocks totaled PHP9.63 billion and in foreign exchange USD651.3 million.
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