The peso hit its weakest level against the US dollar in five months on Thursday in a market reaction to lower growth projections for the Philippines for 2014-2015 and almost flat import data for July.
The local currency opened at P44.43 to $1 on the Philippine Dealing System (PDS) before trading between P44.42 and P44.79. It closed at P44.77, the weakest level since April 25 when the peso traded at P44.64 per dollar.
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