The Philippine peso slumped to the P50:$1 mark at the opening session on Thursday as the market refocused on the US after Federal Reserve Chair Janet Yellen expressed a positive view of the US economy.
The peso regained some pace to finish trade on the Philippine Dealing System at P49.98. Still, it was the weakest finish for the local currency since Dec. 22, 2016, when it closed at P49.995:$1.
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