Peso strengthens on aggressive BSP hike

THE PESO continued to strengthen against the dollar on Thursday as the Bangko Sentral ng Pilipinas (BSP) delivered its biggest-ever rate hike amid growing inflation pressures. The local unit closed at P56.15 per dollar on Thursday, gaining 11 centavos from its P56.26 finish on Wednesday, based on Bankers Association of the Philippines data. Still, year […]

Peso down on Fed bets after jobs data

THE PESO weakened anew against the dollar on Monday as strong US jobs data fueled bets of continued aggressive monetary tightening. — BW FILE PHOTO THE PESO weakened slightly against the dollar on Monday on stronger-than-expected US jobs data, which could support more aggressive rate hikes from the US Federal Reserve. The local currency closed […]

Peso may weaken further vs dollar

THE PESO may continue to weaken versus the greenback this week on safe-haven demand due to fears of a global economic slowdown and expectations of further aggressive action from the US central bank. The local unit finished at P55.92 per dollar on Friday, rebounding by 14 centavos from its P56.06 close on Thursday, data from […]

Peso sinks to new over 16-year low

THE PESO ended weaker against the dollar on Wednesday as expectations of more monetary tightening from the US Federal Reserve amid rising inflation made the market more risk averse. The local unit closed at P55.67 versus the dollar on Wednesday, sinking by 44 centavos from its Tuesday finish of P55.23, data from the Bankers Association […]

Peso moves sideways before announcement of new Metro Manila restrictions 

THE PESO inched sideways versus the greenback on Thursday, with investors still waiting for the government’s announcement on mobility restrictions for next month and as oil prices dropped.  The local unit closed at P50.71 per dollar on Thursday, inching up from its P50.72 finish on Wednesday.  The peso opened Thursday’s session weaker at P50.77 against […]