Peso record low: Ps51.65:$1, but is this market price?

The Philippine peso sank to another record low on October 30, 2000, this time at Ps51.65 to the US dollar, amidst a political stalemate gripping the country.
October 30, 2000

In a related development, the Bureau of Treasury rejected all bids for 91-day treasury bills which are considered the benchmark for short term bank loans in the country.

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