MANILA -- The Philippine peso fell to lowest level in nearly 12 years, while the local stocks continued its downward spiral for the sixth straight session on Wednesday.
The local unit ended the day's trade hitting a record low of 52.47 27.5 centavos weaker than Tuesday's 52.195.
This is the lowest level for the peso since its 52.745 finish on July 19, 2006.
It opened the day at 52.27 and traded between 52.26 to 52.48.
Meanwhile, the main Philippine Stock Exchange index (PSEi) fell 1.12 percent, or 85.73 points, to 7,560.47 points.
All the other counters tracked the main gauge, with the All Shares down by 0.87 percent, or 40.46 points, to 4,612 points.
The sectors were led by the Holding Firms, which dropped by 1.76 percent; followed by Financials, 1.52 percent; Services, 0.60 percent; Industrial, 0.38 percent; Mining and Oil, 0.28 percent; and Property, 0.08 percent.
Volume for the day reached 1.86 billion shares amounting to PHP5.88 billion.
Decliners led advancers at 116 to 66 while 55 shares were unchanged. (PNA)
