Peso weakens on strong US data

THE PESO ended weaker against the dollar on Monday following stronger US employment data and the downward revision to Philippine economic managers’ growth forecast for next year. The local unit closed at P56.02 versus the dollar on Monday, losing 28 centavos from its P55.74 finish on Friday, data from the Bankers Association of the Philippines’ […]

Peso inches lower vs the dollar

THE PESO moved sideways against the dollar on Thursday after the central bank delivered an aggressive rate increase to rein in rising inflation. — BW FILE PHOTO THE PESO moved sideways against the dollar on Thursday as the Bangko Sentral ng Pilipinas (BSP) delivered a widely expected 75-basis-point (bp) rate increase to fight inflation. The […]

Peso rises vs dollar on strong data

THE PESO strengthened on Tuesday as the country’s dollar reserves rose as of October and as the unemployment rate dropped to its lowest level since the coronavirus pandemic. The local unit ended trading at P58.275 per dollar on Tuesday, appreciating by 30.5 centavos from its P58.58 close on Monday, based on data from the Bankers […]

Peso sinks ahead of Fed decision

THE PESO weakened versus the dollar on Wednesday on expectations of another aggressive rate hike from the US Federal Reserve. The local unit closed at P58.47 against the dollar on Wednesday, down by 50 centavos from P57.97 on Friday, data from the Bankers Association of the Philippines’ website showed. Philippine financial markets were closed for […]

PHL raises $2B from dollar bonds

THE MARCOS administration raised $2 billion (P118 billion) from its first dollar bond issuance, the Bureau of the Treasury (BTr) said. The BTr sold $500 million worth of five-year bonds priced at 5.17% or US Treasuries plus 120 basis points (bps). It also sold $750 million worth of 10.5-year bonds with a yield of 5.609% […]

Peso closes unchanged vs dollar

THE PESO was steady versus the greenback on Wednesday as the September inflation print remained in line with market expectations. The local unit closed at P58.65 per dollar on Wednesday, unchanged from its Tuesday finish, Bankers Association of the Philippines data showed. The peso opened Wednesday’s session stronger at P58.60 versus the dollar. Its weakest […]