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BusinessWorld
May 3, 2021 | 12:02 am
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THE PESO could weaken anew this week on expectations that the inflation rate is likely faster and amid preference for the dollar due to the brighter prospects of the US economy.
On Friday, the local unit finished at P48.10 per dollar, powering by 21.5 centavos from its P48.315 close on Thursday, based on data from the Bankers Association of the Philippines.
The peso’s Friday close is its best in more than two months or since Feb. 15 when it ended trading at P47.93.
The local unit also strengthened by 28.1 centavos from its P48.381 close on April 23.
Peso surges to two-month high vs dollar
April 30, 2021 | 6:16 pm
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THE PESO closed at a two-month high versus the greenback on Friday on profit-taking and as the country’s balance of payments (BoP) gap narrowed in March.
The local unit closed at P48.10 per dollar on Friday, stronger by 21.5 centavos than its P48.315 finish on Thursday, data from the Bankers Association of the Philippines showed.
This was its strongest in more than two months or since its P47.93-per-dollar finish on Feb. 15.
The local unit also appreciated by 28.1 centavos from its P48.381 close on April 23.
The peso opened Friday’s session stronger at P48.27 per dollar. It reached a peak of P48.099, while its intraday low was at P48.28 against the greenback.
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PH digital payments on an upswing – UN report Mayvelin U. Caraballo, TMT
THE Philippines sustained its progress in terms of digital payment transactions, according to a report from a United Nations (UN) agency commissioned by the Bangko Sentral ng Pilipinas (BSP).
In the 2019 update and 2020 preview of its report titled “The State of Digital Payments in the Philippines,” the UN-based Better Than Cash Alliance (BTCA) said the volume of monthly digital payments in the country climbed from 10 percent in 2018 to 14 percent in 2019.
This corresponds to a 27-percent expansion in volume, driven primarily by high-frequency, low-value retail transactions, like merchant payments, it added.