The Philippines’ foreign reserves declined to $106.98 billion as of end-May this year as the national government withdrew its deposits in the central bank to pay for its foreign currency-denominated obligations, the Bangko Sentral ng Pilipinas (BSP) said Friday.
The rise in Philippine exports and imports undershot economists’ expectations in April after Covid-related mobility restrictions were reimposed to stem a surge in cases.
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June 10, 2021 | 9:00 pm
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THE PESO weakened versus the greenback for a third straight day on Thursday on safe haven demand as the market awaits the release of US inflation data, which could dictate the pace of the Federal Reserve’s tapering.
The local unit closed at P47.765 per dollar on Thursday, shedding 3.4 centavos from its P47.731 finish the day prior, data from the Bankers Association of the Philippines’ website showed.
The peso opened Thursday’s session at P47.72 versus the dollar. Its weakest showing was at P47.777 while its peak for the session was at P47.68 against the greenback.
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