Article: PHILIPPINES PESO DEPRECIATES FURTHER TO 48.73 ON US DOLLAR.

MANILA, Aug 27 Asia Pulse - Continued risk aversion again hurt the local currency after it closed to its lowest trading level for the day at 48.73 against a dollar Wednesday.

Wednesday's closing for the peso is its 17-week low after it closed at 48.99 against the US currency on April 28, 2009.

At the Philippine Dealing System, the local unit started the day at 48.60, P0.10 lower than day-ago's P48.50.

It went up to as high as 48.60, which is also P0.10 lower than day-ago's level, before closing the session P0.22 weaker than Tuesday's closing.

Average rate for the day stood ...

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