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February 2, 2021 | 9:00 pm Font Size
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THE PESO appreciated against the greenback on Tuesday on risk-on sentiment amid gains in the local stock market as well as signals of likely lower borrowings in the US.
The local unit closed at P48.053 per dollar yesterday, gaining 1.2 centavos from its P48.065 finish on Monday, data from the Bankers Association of the Philippines showed.
The peso started Tuesdayâs trading session at P48.07 per dollar, which was also its weakest showing. Meanwhile, its intraday best was at P48.05 against the greenback.
Dollars exchanged slumped to $597.7 million from $787.95 billion the previous day.
The pesoâs appreciation was supported by gains in the local stock market, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.
February 2, 2021 | 12:35 am Advertisement
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PHILIPPINE manufacturing activity rose to a 25-month high in January, as improved customer demand led to higher production, a survey conducted by IHS Markit showed.
IHS Markit on Monday reported its Philippines Manufacturing Purchasing Managers’ Index (PMI) hit 52.5 in January, well above the 50-neutral mark that separates expansion from contraction and a turnaround from the 49.2 reading in December.
This was the highest PMI reading in 25 months or since the 53.2 logged in December 2018.
“January data indicated a rebound in operating conditions across Filipino manufacturing sector after three successive months of decline,” Shreeya Patel, economist at IHS Markit, said in a statement.
THE PESO strengthened against the greenback on Monday supported by improved manufacturing data.
The local unit closed at P48.065 versus the dollar yesterday, gaining 1.5 centavos from its P48.08 finish on Friday, data from the Bankers Association of the Philippines showed.
The peso opened Monday’s session at P48.06 a dollar. It moved in a tight range, with its weakest showing at P48.077 and its strongest intraday level at P48.05 against the greenback.
Dollars that changed hands increased to $787.95 million on Monday from $685.7 million on Friday.
The improvement in factory activity data boosted sentiment on the local unit, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.
THE PESO strengthened against the greenback on Friday as US stocks rebounded following sharp losses.
The local unit gained three centavos to close at P48.08 per dollar on Friday from its P48.11 finish the day prior, data from the Bankers Association of the Philippines showed.
Week on week, the peso ended a tad higher than its P48.085 close on Jan. 22.
The peso opened the session at P48.07 a dollar, which was also its strongest showing for the day. It moved within a narrow range, with its worst showing for the day logged at just P48.085 against the greenback.
Dollars traded declined to $685.7 million from $1.188 billion on Thursday.