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Philippine peso hits 7-year low as foreign investors sell shares

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The Philippine peso fell to a seven-year low on Friday as local shares lost ground on continuous foreign selling.

[SINGAPORE] The Philippine peso fell to a seven-year low on Friday as local shares lost ground on continuous foreign selling.

The peso fell 0.5 per cent to 48.925 per dollar as of 0158 GMT, its weakest since September 2009.

Manila stocks slumped 1.7 per cent.

REUTERS

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