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Peso breaches P50:$1 before recovering
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Contributed by World News
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BY JIMMY CALAPATI THE peso yesterday broke the P50-to-a-dollar level as the market continued to shun risks. "Risk-aversion pressures are still present," Bangko Sentral Gov. Amando Tetangco yesterday said. The peso opened at P50 to a dollar yesterday and hit low of P50.17 within an hour of trading. By mid-trade, the currency recovered and hit a high of 49.80. It closed at 49.82, 17 centavos higher than Thursday's close of 49.99. Total volume reached $622.50, the highest this week. Tetangco maintained that the...
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