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BusinessWorld
December 14, 2020 | 9:00 pm
THE PESO strengthened versus the greenback on Monday, supported by optimism after the United States approved the use of a vaccine against coronavirus disease 2019 (COVID-19).
The local unit closed at P48.05 per dollar on Monday, appreciating by two centavos from its Friday finish of P48.07 versus the greenback.
The peso opened the session at P48.10 against the dollar, which was also its weakest showing for the day. Meanwhile, its intraday best was at P48.04 versus the greenback.
The volume of dollars that changed hands amounted to $358.8 million, dropping from the $540.85 million seen on Friday.
The peso strengthened versus the dollar on the back of positive market sentiment on the progress on the use of a vaccine in the US, a trader said.
Peso rebounds in anticipation of Christmas remittances By JON VIKTOR D. CABUENAS, GMA News
Published December 14, 2020 7:09pm The Philippine peso opened the week on a strong note against the greenback on Monday, buoyed by the expected increase in remittances ahead of the Christmas holidays. The local currency lost 2 centavos to close at P48.05:$1 versus last Friday s finish of P48.07:$1. Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort attributed Monday s appreciation to the expected seasonal surge in remittances and conversion to pesos for Yuletide spending, a week before the Christmas holidays. The scheduled rollout/inoculations of the Pfizer COVID-19 vaccine in the US starting today, December 14, 2020, after getting FDA approval also partly supported market sentiment worldwide, including emerging markets such as the Philippines, including the peso, he said in a mobile message.