Peso weakens to 63.70 per dollar — slips 45 centavos in a single day on the 12th

Peso weakens to 63.70 per dollar — slips 45 centavos in a single day on the 12th

📌 On Thursday, November 12, the Philippine peso closed at 63.70 per dollar, 45 centavos weaker than the previous day (63.25). The same day, the Philippine Stock Exchange index (PSEi) also closed down 0.57% at 5,660.55.

■ What's changing
· The peso moved between 63.25 and 63.70 that day, with an average of 63.55. Trading volume was $1.72 billion, up from the previous day's $1.42 billion (PNA).
· BusinessWorld reported that the peso fell to near its lowest level in two weeks on expectations of further US Federal Reserve rate hikes and a rebound in oil prices.
· Michael Ricafort, chief economist at RCBC, said weak January–September earnings from some listed companies and the outlook for US interest rates and inflation weighed on stocks (PNA).

■ Tips for residents and travelers
· This is favorable for those converting dollars to pesos, but a bigger burden for those who need to pay or send money in dollars.
· Money changer rates differ from interbank rates, so compare several places before exchanging.

■ Sources
PNA (11/12), BusinessWorld (11/12), CLTV36 News (official Facebook, 11/12)

■ Photos
· 1. Graphic of the November 12 exchange rate table — CLTV36 News (official Facebook)
· 2. Stock photo · US dollar bills and peso coins — BusinessWorld