The peso dropped further against the US dollar at the start of the trading week, hitting a fresh six-year low ahead of a Federal Open Market Committee (FOMC) meeting later this week.
The currency closed at P47.34 to $1 on Monday, losing 11 centavos from Friday’s P47.23. It was the weakest since November 6, 2009 when the peso slid to P47.20 against the greenback.
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