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TRADER READS NEWS ON PESO DEVALUATION AT PHILIPPINE STOCK EXCHANGE, 1997-07-14 (photo)

IMAGE number
REU8251378
Image title
TRADER READS NEWS ON PESO DEVALUATION AT PHILIPPINE STOCK EXCHANGE, 1997-07-14 (photo)
Auto-translated text View Original Source
Photographer
Erik de Castro
Medium
photograph
Date
1997 AD (C20th AD)
Shooting Date
1997-07-14
Image description

A Filipino trader reads a newspaper reporting on the peso's devaluation during a lull in trading at the Philippine Stock Exchange in Manila's Makati financial district July 14. The Philippine peso slumped after last week's de facto devaluation but an initial surge in the share market quickly fizzled out. The Philippine Central Bank launched a witch-hunt to find out if any local banks were involved in last week's repeated speculative attacks on the peso which resulted in the currency's 11.5 percent plunge to near four-year lows. PHILIPPINES PESO

Photo credit
REUTERS/Erik de Castro / Bridgeman Images
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