TOKYO -- The Philippine peso is depreciating against the dollar, hitting the lowest in over two years on Thursday, as investors sell off the currency amid growing expectations that the country's central bank will cut interest rates.
Currencies
Philippine peso hits 2-year low against dollar on rate cut speculation
Central bank chief says rates could be lowered by full percentage point next year
The Philippine peso's current level of around 59 to the dollar is the lowest since October 2022. © Reuters
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