Philippine Peso Completes Worst Month in 16 Years Amid Outflows
- Duterte’s outburts prompt foreigners to pull money from stocks
- Central bank governor says peso swings due to Fed rate bets
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The Philippine peso completed its biggest monthly decline since October 2000 amid the biggest outflow from the nation’s stocks in a year.
The investor exodus prompted by President Rodrigo Duterte’s expletive-laden outbursts has pushed the currency to a seven-year low and made it Asia’s worst performer in September. Duterte has lashed out at U.S. President Barack Obama and told off both the European Union and the United Nations for their criticisms of his violent anti-drug campaign, which has left more than 3,000 people dead.