Peso down amid nCoV threat

The Philippine peso depreciated against the US dollar as worries arising from the novel coronavirus tempered trading activities.

The local currency shed 8 centavos to close at P50.83:$1 from 50.75 on Tuesday.

“The market has been relatively quiet with the health scare continuing to unfold with additional death and infected numbers,” Union Bank chief economist Ruben Carlo Asuncion said.

As of Wednesday, over 5,900 confirmed cases were reported in China and the death toll rose to 132, according to its national health commission.

The World Health Organization said that 14 other countries including Thailand, Singapore, Japan, Australia, US, and France also have confirmed cases of the novel coronavirus.

There are no confirmed cases in the Philippines yet, the Department of Health (DOH) said.

In the Philippines, a Chinese national under investigation for possible novel coronavirus infection has died at San Lazaro Hospital.

There are 23 persons under investigation in the country for possible novel coronavirus infection as of Wednesday, according to the DOH. —NB, GMA News