Peso inks a record single day rise as crew abandons ship

January 19, 2001
Lets have this clear In a single afternoon the Philippines saw the resignation of the Finance Secretary, the Cental Bank Governor, the Treasurer, the Secretary of the National Economic Development Authority, the Interior Secretary, the Chief of Staff of the Armed Forces, the Commanding General of the Police, and the commanding generals of the services,  and other cabinet officials.

What do you think happened to the peso Yes, you are right, the peso jumped from a closing value of Ps54.790 on Thursday to an amazing closing of Ps47.500 on Friday after reaching an intraday strength of Ps47.000.

 

The volume was $101.55 million.

 

This is the single biggest intraday increase...

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