MANILA, Aug. 7 (Xinhua) -- The Philippine peso weakened to 60.9 against the U.S. dollar on Friday from 60.81 in the previous session, local media reported on Friday.
The local currency opened at 60.9, weaker than Thursday's start of 60.68, and traded between 60.88 and 61.06, with an average of 60.96. Trading volume reached 1.8 billion U.S. dollars, down from 2.04 billion dollars a day earlier.
The peso's weakness was attributed to the slower output of the domestic economy, the rise in crude oil prices, and the decline in the country's gross international reserves, according to the reports. ■