MANILA -- The Philippine peso hit a record-low on Monday, as the Philippine Stock Exchange index (PSEi) followed through on last week's losses.
The local unit shed 13.5 centavos to close at 52.465 from last Friday's finish of 52.33, thus suffering the worst loss in 12 years.
The weakening peso, according to a trader, was due to the continued rise of US Treasury yields.
Meanwhile, the local bourse witnessed another drop following a loss of 0.19 percent, or 14.23 points, to close at 7,658.05 points.
The broader All Shares plunged by 2.21 points, or 0.05 percent, to 4,662.73 points.
The losing sectors were led by Financials, which dropped by 1.35 percent; followed by Industrial and Services, which were both down by 0.50 percent.
Only the Mining and Oil, Property, and Holding Firms registered upticks of 1.06 percent, 0.46 percent, and 0.31 percent respectively.
Volume reached 1.175 billion shares amounting to PHP4.18 billion.
Losers led gainers at 105 to 83, while 55 shares remained unchanged. (PNA)
