Peso strengthens vs dollar as US Congress passes bill hiking debt ceiling

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 […]

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 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 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 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 […]