Another record day for the peso after two former Erap officials testify

This disheartening performance of the peso follows in the wake of the debilitating testimonies of two high profile finance executives who abandoned the Erap presidency.
January 16, 2001

The Philippine peso dipped into uncharted waters when it reached an intraday weakness of Ps52.950 ($1.01) – another historic low for the embattled currency.

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