Banks and businesses have renewed calls for Congress to pass the bill amending Republic Act No. 1405 or the Secrecy of Bank Deposits for a more relaxed version of the law to allow the Bangko Sentral ng Pilipinas (BSP) to look into and investigate the bank accounts of suspicious individuals, especial
The peso closed higher at P47.985 to the US dollar Thursday, (May 27) from P48.15 the previous day. The weighted average rate appreciated to P48.091 from P48.138. Total volume amounted to $1.088.59 billion, according to the Bankers Association of the Philippines.
BusinessWorld
May 21, 2021 | 6:20 pm
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 was P47.84.
Dollar volume was $941.25 million on Friday, against $979.8 million a day earlier.
The government increased infrastructure spending in the second half of 2021, with the building program intended as a key component of the economic recovery.
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