THE PESO appreciated versus the greenback on Wednesday after US legislators approved a measure that will temporarily increase the government’s borrowing limit. The local unit ended trading at P50.655 per dollar on Wednesday, appreciating by 19.5 centavos from its close of P50.85 on Tuesday, data from the Bankers Association of the Philippines showed. The peso […]
Tag: peso
Peso rebounds versus the dollar
THE PESO strengthened on Wednesday to return to the P50-per-dollar level on profit taking and gains at the local stock market. The local unit closed at P50.865 per dollar on Wednesday, appreciating by 13.5 centavos from its P51 finish on Tuesday, data from the Bankers Association of the Philippines showed. The peso opened Wednesday’s session […]
Weaker fundamentals to affect peso’s strength
UNCERTAINTIES over the Philippine government’s management of the coronavirus pandemic and deteriorating economic fundamentals will threaten the peso’s strength, Fitch Solutions Country Risk & Industry Research said. “We expect the peso to remain vulnerable to coronavirus disease 2019 (COVID-19) outbreaks, given low vaccination rates and difficulties containing outbreaks,” it said in a note on Tuesday […]
Peso strengthens further on lower oil prices
THE PESO rose against the dollar on Monday on the back of lower global oil prices. The local currency appreciated by 10 centavos to close at P50.27 versus the greenback on Monday from its P50.37 finish on Friday, data from the Bankers Association of the Philippines showed. The local unit opened the session at P50.30 […]
Peso drops on hawkish Fed comments
THE PESO weakened versus the greenback on Wednesday following hawkish signals from the US Federal Reserve. The local unit closed at P50.43 per dollar, shedding 2.9 centavos from its P50.401 finish on Tuesday, based on data from the Bankers Association of the Philippines. The peso opened Wednesday’s session at P50.37 per dollar. Its intraday best […]
Peso down on Lambda variant fears
THE PESO weakened versus the greenback on Monday due to the detection of the more infectious Lambda variant in the country and the possibility of an extended lockdown as cases continue to surge. The local unit closed at P50.645 per dollar yesterday, shedding 16.4 centavos from its P50.481 finish on Friday, based on data from […]
Banks’ rediscount borrowings hit P5.5 million in first seven months
BANKS tapped the peso rediscount facility of the Bangko Sentral ng Pilipinas (BSP) for the second straight month in July, but availments remained low due to excess liquidity in the financial system. “For the period Jan. 1 to July 31, 2021, total availments of banks under the peso rediscount facility amounted to P5.519 million,” the […]
Peso inches up ahead of Q2 GDP data
THE PESO inched up versus the greenback on Monday following data showing a softer economic contraction in the first quarter, which came ahead of the release of the second quarter gross domestic product (GDP) report. The local unit closed at P50.385 per dollar, gaining 1.5 centavos from its P50.40 finish on Friday, based on data […]
Peso climbs on quarantine measures, dovish Fed
THE PESO appreciated versus the greenback on Thursday as the government kept Metro Manila under general community quarantine (GCQ) and after the US Federal Reserve said it will continue to support the world’s largest economy. The local unit closed at P50.305 per dollar on Thursday, gaining 6.5 centavos from its P50.37 finish on Wednesday, based […]
Peso weakens on further Delta variant cases
The peso weakened against the dollar Friday after the government confirmed the detection in the Philippines of more cases of the highly-infectious Delta variant of COVID-19. The peso ended at P50.235 to the dollar, against its P50.22 close Thursday, according to the Bankers Association of the Philippines’ (BAP). The peso opened at P50.20, hitting a low of P50.25. Its intraday best was P50.15. Dollar volume was $841.6 million, down from Thursday’s tally of $1.41 billion. Week-on-week, the peso weakened from its P50.08 […]
Peso retreats as Wall Street climbs on data
THE PESO weakened anew versus the greenback on Wednesday due to gains in the US stock market following data showing quicker inflation in the world’s largest economy. The local unit closed at P50.30 against the greenback on Wednesday, retreating by 30 centavos from its P50-per-dollar finish on Tuesday, data from Bankers Association of the Philippines […]
Peso sinks on Fed’s hawkish shift
THE PESO depreciated versus the greenback on Monday as players remained cautious after the US Federal Reserve hinted at a possible tightening of its easy monetary policy. The local unit closed at P48.695 per dollar on Monday, sinking by 26.5 centavos from its P48.43 finish on Friday, based on data from the Bankers Association of […]
Peso down ahead of decision on quarantine measures
THE PESO depreciated versus the greenback on Monday ahead of the government’s decision on lockdown measures for the rest of the month. The local unit ended at P47.89 per dollar on Monday, sinking by 19 centavos from its P47.70 close on Friday, data from the Bankers Association of the Philippines showed. The peso opened Monday’s […]
Rediscount facility untapped for eighth month in a row
BANKS DID NOT avail of the central bank’s rediscount facility in May, reflecting ample liquidity in the financial system. “There are no availments under the Peso Rediscount Facility and the Exporters’ Dollar and Yen Rediscount Facility (EDYRF) covering the period Jan. 1 to May 31,” the Bangko Sentral ng Pilipinas (BSP) said in a statement. […]
Peso may weaken vs dollar on new COVID-19 variants
THE PESO may weaken against the dollar this month on the emergence of new variants of the coronavirus disease 2019. — BW FILE PHOTO THE PESO could depreciate versus the greenback this month after posting gains in May as new coronavirus disease 2019 (COVID-19) variants cloud the country’s economic outlook, MUFG Global Research said on […]
Peso drops further on foreign outflows
THE PESO dropped further against the greenback on Wednesday as foreigners exited the local stock market and on expectations of improved US data, which could hasten the US Federal Reserve’s policy tightening. The local unit closed at P48.15 versus the dollar on Wednesday, weakening by 1.5 centavos from Tuesday’s finish of P48.135, data from the […]
Peso weakens after pickup in infrastructure spending
THE PESO weakened Friday after a pickup in infrastructure spending was taken by traders to mean an increase in dollar outflows stemming from expanded imports of raw materials and capital equipment. The peso closed at P47.945 against the dollar Friday, against the Thursday finish of P47.94, according to the Bankers Association of the Philippines. Week-on-week, the peso retreated from its P47.81 close on May 14. The peso opened Friday at P47.85. The low was P47.93, while the high […]
Peso moves sideways ahead of BSP decision
THE PESO ended flat on Wednesday as traders stayed on the sidelines ahead of the central bank’s policy meeting later in the day. The local currency closed at P47.815 versus the dollar on Wednesday, barely changed from Tuesday’s P47.81 finish, data from the Bankers Association of the Philippines’ website showed. The peso opened at P47.80 […]
Peso rises on sluggish import prospects after weak Q1 GDP data
THE PESO strengthened versus the greenback on Tuesday despite data showing the economy continued to contract in the first quarter. The local unit closed at P47.81 per dollar on Tuesday, appreciating by 5.5 centavos from its P47.865 finish on Monday, data from the Bankers Association of the Philippines showed. The peso opened Tuesday’s trading session […]
Peso ends flat vs dollar
THE PESO moved sideways versus the greenback on Monday as investors took a wait-and-see stance ahead of the release of the first-quarter gross domestic product (GDP) data. The local unit closed at P47.865 per dollar on Monday, inching down from its P47.855 finish on Friday, based on data from the Bankers Association of the Philippines. […]