The central bank continues to see healthy, vibrant trading on the local currency market, but said on Tuesday it would not just stand back when the exchange rate started showing “disruptive or excessive” movements beyond what is already more than a 10-year low.
The local currency finished Tuesday trade at P50.25:$1, losing 2 centavos more from its value on Monday at P50.23:$1, which already marked its weakest level since it settled at P50.32:$1 on September 26, 2006.
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