P/$ rate closes at P47 81/$1 – Manila Bulletin mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
BusinessWorld
May 11, 2021 | 9:00 pm
BW FILE PHOTO
THE PESO strengthened versus the greenback on Tuesday despite data showing the economy continued to contract in the first quarter.
The local unit closed at P47.81 per dollar on Tuesday, appreciating by 5.5 centavos from its P47.865 finish on Monday, data from the Bankers Association of the Philippines showed.
The peso opened Tuesday’s trading session at P47.90 per dollar. Its weakest showing was at P47.92, while its intraday best was its close of P47.81 against the greenback.
Dollars exchanged rose to $837 million on Tuesday from $715.25 million on Monday.
The peso appreciated as the market factored in the impact of the gross domestic product (GDP) drop seen in the first quarter on the country’s imports, which could affect the currency, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.
Peso ends flat vs dollar - BusinessWorld bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
The peso closed higher at P47.98 to the US dollar Thursday, (May 6) from P48.025 the previous day. The weighted average rate appreciated to P47.979 from P48.027. Total volume amounted to $978.05 million, according to the Bankers Association of the Philippines.