Peso continues to slide, falls to new record low of 61.75:$1

MANILA, Philippines — The Philippine peso fell to a new record low against the dollar on Monday, the first trading day of the week. This developed as US Treasury yields continue to rise amid mounting expectations of interest-rate increases from global central banks, driving the greenback’s strength. The local currency fell 2.9 centavos to close at 61.75 per dollar, matching the day’s intraday low and surpassing the previous record-low finish of 61.721 set in the prior session, data from the Bankers Association of the Philippines showed. READ: Kim Robert de Leon appointed new DBM chief Trading volume eased to $1 billion […]... Keep on reading: Peso continues to slide, falls to new record low of 61.75:$1

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