The Philippine peso completed its first weekly gain in three on speculation remittances will increase in the run-up to Christmas and as people send money to aid the victims of Super Typhoon Haiyan. Bonds fell.
The Philippine economy grew at the slowest pace in more than a year last quarter, with damage from Super Typhoon Haiyan further crimping the outlook for full-year expansion before a reconstruction boost.
The Philippine peso fell for a fourth day, touching the lowest level in more than two months on speculation the U.S. will scale back stimulus that’s boosted emerging markets. Government bonds weakened.
The Philippine peso completed its biggest two-day loss since August and bonds fell as President Benigno Aquino declared a state of calamity following the destruction and loss of life from Super Typhoon Haiyan.