Traders Dumping PH Peso--Now P54.31 to $1

The peso slid to yet another 12-year low on Tuesday as the market girded itself for the lingering effects of stubbornly high prices despite the central bank’s vow to act aggressively against inflation. The local currency ended the trading session at P54.31 to a dollar which is its lowest close since November 22, 2005 (Inquirer.net).