NEWSFLASH

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PESO FALLS TO P39.27/$1

Manila, April 6, 1998 - The Philippine peso moved back towards the P40=$1 mark, falling to P39.27 after the Japanese yen pulled down Asian currencies.

The peso closed at P39.14, after opening at P38.80. Volume turnover was $178.1 million, leaner than the turnover Thursday of $211.5 million.

Traders are predicting that the peso could slide down further to the P40 mark next week.

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