Peso inks a record single day rise as crew abandons ship

January 19, 2001
Let’s 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.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media