Philippine cb denies bid to cap peso slide

The Philippines central bank said that it is not selling dollars in the currency market to support the peso, currently at a record low of 56.45 to the US dollar.

"That's what they (currency dealers) are saying. It's not what we are saying," central bank governor Rafael Buenaventura said in a phone text message when asked to comment after dealers said the central bank has unloaded more dollars on the spot market.

At 9.51 am, the peso averaged 56.448 to dollar after moving in a narrow range of 56

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