Peso Weakens More With Heightened Fears of US Interest Rate Hike

The Philippine peso weakened further for the 5th trading session to an 8-year low on Tuesday, November 22, due to the lack of fresh leads domestically and abroad, as well as intensified concerns over the United States' interest rate hike this December. The peso ended at P49.85:$1 on Tuesday, weaker than the P49.83:$1 on Monday, November 21, reports Rappler.