NEWSFLASH

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PESO SHEDS 32 CENTAVOS

Manila, Oct. 25, 1997 - The peso lost 32 centavos yesterday to settle at a weighted average of P34.83 to a dollar from Thursday's P34.51/dollar.

Traders say the peso was reacting late to regional currencies trends. "The fall of the peso was more of a delayed reaction since regional currencies had already firmed up following Thursday's crash of the Hong Kong Market," the trader said.

Total volume of transactions was very minimal, at 74 million. The last deals with the participation of the Bangko Sentral ng Pilipinas (central bank) resulted in a closing rate of P35.10 to the dollar.

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