Peso Drops to Lowest Rate at P50.5 to US Dollar

The peso weakened further against the US dollar on Wednesday, July 5, closing at 50.600 in another almost 11-year low. Hitting an intraday low at the same value against $1 and a high at 50.470, currency opened at 50.540, slightly weaker than Tuesday’s close of 50.520, reports Inquirer.net.