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Photo illustration of US dollar to PH peso exchange in this photo taken on September 30, 2022. Gigie Cruz, ABS-CBN News

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US dollar

Arthur Fuentes

ABS-CBN News

<p>MANILA - The Philippine peso again fell, and the stock market ended the week in the red, amid investor worries over escalating tensions in the Middle East.</p><p>The peso closed at 57.65 to the US dollar, which was weaker than its Thursday close of 57.19.</p><p>Since the start of the month, the peso has lost P1.395 to the greenback, and P1.98 since the start of the year.</p><p>Bangko Sentral Governor Eli Remolona meanwhile has said that this was not a case of the peso being weak, but of the dollar being strong.</p><p>Meanwhile, the PSE index fell 80.19 points or 1.23 percent to  6,443. This was lower than its level at the start of the year.</p><p>Will Cabangon, president of AAA Securities said the sell-off on Friday was expected as investors want to play it safe over the weekend amid the uncertainties in the Middle East.</p><p>&quot;I think fear is an understatement. What I sense right now is extreme fear, maybe even unjustifiably so,&quot; Cabangon said in an interview with ANC.  </p><p>World oil prices rallied and stock markets around the world fell Friday as reports said explosions had been heard in Iran and Syria, fuelling fears of an escalation of the Middle East crisis after last weekend&#x27;s missile attack on Israel by Tehran.</p><p>The benchmark Brent North Sea Crude was up 1.1 percent at $88.10 per barrel, while the Nikkei 225 index was down 2.7 percent at 37,068.35; and Hong Kong&#x27;s Hang Seng Index fell 1 percent to 16,224.14.</p><div><strong>- With a report from Agence France-Presse</strong></div><div><ivs-player data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-spid="3001339" data-ivs-vid="3017389"></ivs-player></div><script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script>

<p>The Philippine peso again fell, and the stock market ended the week in the red, amid investor worries over escalating tensions in the Middle East.</p>

The Philippine peso again fell, and the stock market ended the week in the red, amid investor worries over escalating tensions in the Middle East.

Philippine peso, stocks fall again amid worries over Mideast conflict

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Philippine peso, stocks fall again amid worries over Mideast conflict

Arthur Fuentes,

ABS-CBN News

Published Apr 19, 2024 08:48 PM PHT

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Updated Apr 19, 2024 08:59 PM PHT

Read More:

peso

forex

peso-dollar rate

stocks

PSEi

equities

Iran

Israel

crude oil

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