THE peso yesterday fell to P43 to $1, its lowest level since last November, as the market continued to react to soaring oil prices, currency traders said.

Records of the Bankers Association of the Philippines show that $715.08 million changed hands Tuesday, from $351 million Monday, fueled by corporate demand and largely from oil companies.

The local currency opened at P42.82 and traded as high as P42.81 in yesterday’s session.

A currency trader from a universal bank said corporate demand for the greenback was heightened, especially now that oil has extended its rally and breached $127 a barrel.

“The market is still looking at the peso’s weakness because of [soaring] food and fuel prices. There was also higher corporate demand. Oil companies have a big contribution to this demand,” the trader said.

THE government is again eyeing the impact of thousands of individual investors and their money in the hope of attracting cheap funds under a proposed retail Treasury bond (RTB) sale in July.

THE yield for the seven-year Treasury bonds rose to 8.375 percent from 6.5 percent in November when it was last offered, according to results of the auction yesterday.

THE peso yesterday fell to P43 to $1, its lowest level since last November, as the market continued to react to soaring oil prices, currency traders said.

THE Bureau of Internal Revenue (BIR) said it has ordered an audit of firms previously on the list of its large taxpayer service, or LTS.