MANILA, Sept. 5 (Xinhua) -- The Philippine currency peso Monday sank to its lowest level in history at 56.99 pesos to one U.S. dollar, data from the Bankers Association of the Philippines showed.
Data showed that Monday's close was lower than the record of last Friday at 56.77 pesos to one U.S. dollar, which also broke the previous all-time record low at 56.45 pesos to one U.S. dollar in Oct. 2004.
Over the weekend, central bank governor Felipe Medalla said the Philippine currency deprecation is global due to the strong American currency.
Since the beginning of this year, the Philippine currency has lost over 11 percent of its value against the U.S. dollar. ■