PSEi down 0.25% as peso hits 56.999

THE local bourse dropped by 16.61 points on Monday to settle at 6,676.04 as investors digested the depreciation of the peso to a record low and the rise of national debt to a record high at the end of July 2022.

Claire Alviar, research associate at Philstocks Financial Inc., highlighted that the peso remained at 56 levels but is now trying to breach the 57 levels amid the continuing aggressive stance of the Federal Reserve (Fed).