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PHILIPPINE CENTRAL BANK CHIEF GABRIEL SINGSON READS A STATEMENT DURING A PRESSER IN MANILA, 1997-07-11...

IMAGE number
REU7942180
Image title
PHILIPPINE CENTRAL BANK CHIEF GABRIEL SINGSON READS A STATEMENT DURING A PRESSER IN MANILA, 1997-07-11 (photo)
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Photographer
Erik de Castro
Medium
photograph
Date
1997 AD (C20th AD)
Shooting Date
1997-07-11
Image description

Philippine Central Bank chief Gabriel Singson reads a statement during a press conference in Manila July 11. The Philippines caved in to unbearable pressure on Friday and effectively devalued the peso, in the process pushing the stock market to its biggest single-day rise in four years. The Philippine Central Bank announcement that it would allow the peso to move in a wider range against the dollar came after massive speculative selling against the currency in the past two weeks. PHILIPPINES PESO

Photo credit
REUTERS/Erik de Castro / Bridgeman Images
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