By Aaron Michael C. Sy, Reporter
THE Philippine peso weakened against the dollar on Wednesday after touching a fresh intraday record low near the P62 level as escalating tensions in the Middle East heightened inflation and interest rate concerns.
The currency slipped by three centavos to close at P61.815 versus the greenback from its P61.785 finish on Tuesday, data from the Bankers Association of the Philippines’ website showed.
This was the peso’s lowest close in more than three weeks or since its record-low finish of P61.847 on July 24.
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