Trial Of Philippine President Affects Peso's Value
CURRENCY BRIEFS
MANILA--The value of the Philippine peso rests on the outcome of the Philippine president's trial next month for accepting illegal gambling funds, say analysts.
They say the peso should climb if the Philippine Senate rules against president Estrada, but uncertainty surrounding the outcome of the Senate vote is keeping the currency volatile.
On November 17 the peso fell to close at PHP49.8 on rumours that senators will vote in Estrada's favour.
Opponents of vice-president Arroyo, formerly the most
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