By Aaron Michael C. Sy, Reporter
THE PESO sank to another record low against the US dollar on Monday, nearing the P64-per-dollar mark as renewed oil price volatility and growing concerns over stagflation weighed on investor confidence in the Philippines.
The currency slumped by 33.5 centavos to end at P63.95 against the greenback from its previous weakest close of P63.615 on Oct. 23, Bankers Association of the Philippines data showed.
This marked the peso’s 37th record low this year and its sixth so far in October.
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