Freefalling peso hits ANOTHER record low
Bangko Sentral ng Pilipinas spent an estimated $80 million trying to support the peso after it hit a new low.
September 06, 2000
"The market is paying for Malacanang’s stupidity," cried an exasperated FX trader at one of Manila’s domestic banks, referring to the presidential palace. "We are already over-regulated and now we are being harassed by the central bank."
