Peso closes at P50.7 vs dollar

Peso-dollar exchange (INQUIRER FILE PHOTO)

MANILA —  The peso on Monday shed five centavos to close at 50.7:$1 from 50.65:$1 last Friday.

The domestic currency hence remained at an almost 11-year low level, the weakest since Sept. 1, 2006’s 50.735:$1.

At the Philippine Dealing System, the peso reached an intraday low of 50.7:$1 and a high of 50.55:$1 after opening at 50.55:$1.

The total volume traded dropped to $255.95 million from Friday’s $379.45 million.

In a note to clients, Metrobank Research said it expected the peso-dollar pair to trade within the range of 50-51:$1 this week.  SFM