THE PESO further weakened versus the dollar on Tuesday following fears of a global recession as US Federal Reserve officials remained hawkish after delivering a large rate increase last week. The local unit closed at another record-low of P58.99 against the greenback on Tuesday, losing 49 centavos from its P58.50 finish on Friday, Bankers Association […]
Tag: peso
ACEN lists P10-B ASEAN green bonds
ACEN Corp. announced on Thursday that it had successfully issued and listed its maiden peso-denominated ASEAN green bonds with a principal amount of P10 billion. “We are grateful for the strong support of Philippine institutional and retail investors for the company’s maiden peso green bond issuance,” ACEN President and Chief Executive Officer Eric T. Francia […]
Shares plummet on looming Fed hike, weak peso
PHILIPPINE STOCKS plunged on Wednesday on expectations of another big rate hike from the US Federal Reserve overnight and as the peso tested new lows against the dollar. The benchmark Philippine Stock Exchange index (PSEi) sank by 106.77 points or 1.65% to close at 6,341.69 on Wednesday, while the broader all shares index dropped by […]
Peso closes at P57.48 a dollar
THE PESO weakened versus the dollar on Tuesday as market players expect the US Federal Reserve to remain aggressive in its meeting this week. The local unit closed at a new all-time low of P57.48 against the greenback on Tuesday, losing eight centavos from its P57.40 finish on Monday, Bankers Association of the Philippines data […]
Peso plunges to new record low at P57.43 to $1
THE Philippine peso plunged to a new all-time low after closing at P57.43 against the US dollar on Friday, Sept. 16, 2022, data from the Bankers Association of the Philippines (Bap) showed.The peso weakened to as low as P57.44 in intraday trading.The previous historic low was P57.18 recorded on Sept. 8.The peso continues to weaken […]
Peso rises ahead of US inflation data
THE PESO strengthened against the dollar on Tuesday on market expectations of slower August US consumer inflation. The local unit closed at P56.77 per dollar on Tuesday, gaining nine centavos from its P56.86 finish on Monday, based on data from the Bankers Association of the Philippines. The peso opened Tuesday’s trading session at P56.80 per […]
Central bank’s rediscount facility untapped in August
LENDERS left the rediscount facility of the Bangko Sentral ng Pilipinas (BSP) untapped again in August as there was enough liquidity in the financial system. In a statement on Monday, the BSP said its peso rediscount window was untouched anew last month. Total borrowings for the first eight months remained at P11.6 billion, which was […]
Shares slip on Fed hike fears, record-low peso
SHARES declined on Monday amid continued fears of aggressive rates hikes from the US Federal Reserve and after the peso hit a new record low against the dollar. The bellwether Philippine Stock Exchange index (PSEi) went down by 16.61 points or 0.24% to close at 6,676.04 on Monday. Meanwhile, the broader all shares index went […]
Peso may rise ahead of inflation data
THE PESO may rebound against the dollar this week as its recent decline and expectations of still-elevated August inflation may prompt the Bangko Sentral ng Pilipinas (BSP) to continue hiking borrowing costs. The local unit closed at a new all-time low of P56.77 on Friday, weakening by 35 centavos from its P56.42 finish on Thursday, […]
Peso slides to record low, boosting case for bigger hikes
The peso tumbled to a record low, boosting pressure on the central bank to raise interest rates more aggressively to stem the slide. The currency on Friday weakened beyond its previous all-time low set in 2004 after surging imports widened the trade deficit to an all-time high in June. The peso has also come under […]
Peso weakens, nears record low on Fed hike fears
THE PESO sank to a near 18-year low against the dollar on Thursday on expectations of more aggressive moves from the US Federal Reserve and global growth and inflation concerns. The local unit closed at P56.42 per dollar on Thursday, down by 27.5 centavos from its P56.145 finish on Wednesday, data from the Bankers Association […]
Peso declines on hawkish Fed
THE PESO weakened versus the greenback on Tuesday following hawkish signals from top central bankers at Jackson Hole over the weekend. The local unit closed at P56.225 per dollar on Tuesday, down by 20.5 centavos from its P56.02 finish on Friday, Bankers Association of the Philippines data showed. Philippine financial markets were closed on Monday […]
Peso may weaken further vs dollar as Powell says US rates to remain high
THE PESO may decline further against the dollar following hawkish remarks from the US Federal Reserve chief, causing global recession worries anew. — BW FILE PHOTO THE PESO may continue to depreciate against the dollar this week after the US Federal Reserve chief said the US economy may see slower growth as they continue to […]
Peso flat ahead of second US GDP estimate
THE PESO inched higher against the dollar on Thursday as market players await the release of a new estimate for the United States’ second-quarter economic performance. The local unit closed at P56.06 per dollar on Thursday, gaining a centavo from its P56.07 finish on Tuesday, based on data from the Bankers Association of the Philippines. […]
Rediscount window left untapped in July
BANKS left the rediscount facility of the central bank untouched in July as there was ample liquidity in the financial system. The Bangko Sentral ng Pilipinas (BSP) said in a statement on Monday that its peso rediscount window was untapped anew last month following the P7.52-billion loan taken out by a universal bank in June […]
Peso rebounds vs dollar on lower oil prices, PHL stocks’ 3-day rally
THE PESO rebounded against the dollar on Thursday as global oil prices declined and on positive market sentiment as the country’s benchmark stock index rose for the third straight day. The local unit closed at P55.60 per dollar on Thursday, gaining 14 centavos from its P55.74 finish on Wednesday, based on Bankers Association of the […]
Peso weakens vs dollar ahead of Fed decision
THE PESO ended weaker versus the dollar on Wednesday on expectations of another aggressive rate hike from the US Federal Reserve. The local unit closed at P55.68 against the dollar on Wednesday, down by 38 centavos from P55.30 on Tuesday, data from the Bankers Association of the Philippines’ website showed. The peso opened the session […]
Peso climbs vs dollar on Fed rate bets
THE PESO appreciated on Tuesday as the dollar weakened amid expectations that the US Federal Reserve won’t raise interest rates by a full percentage point at its July 26-27 meeting despite rising inflation. The local unit closed at P56.255 per dollar on Tuesday, up by 9.5 centavos from its P56.35 finish on Monday, based on […]
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 […]