Peso falls to its weakest ever, touches 57-level

The peso slumped again on Monday, slipping 22 cents to hit a new record low.

It closed at 56.99 per US dollar, surpassing the previous all-time low of 56.77 Friday.

The peso has shed nearly 12 percent or P6 in value since the start of the year.

On January 3, it closed at P50.999 to the dollar.