PESO FALL UNSTOPPED, NOW 34.926/DOLLAR
Manila, Oct. 2, 1997 - The peso breached the P35 level s yesterday before bouncing back to a 34.926/dollar weighted average, losing 72 centavos in one day.
During the transactions at the Philippine dealing system, the peso was pulled down by pressure from the Asia-wide currency turmoil and the local demand for dollars from foreign investors losing confidence in South East Asian currencies.
The Malaysian ringgit fell as Malaysian Prime Minister Mahathir Muhammad called anew for a ban on currency trading.
Reported by: Sol Jose Vanzi
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