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January 22, 2021 | 7:04 pm Font Size
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The peso weakened against the dollar Friday on the sustained increase in the daily tally of new coronavirus cases.
The currency closed at P48.085 to the dollar Friday, against its finish of P48.054 Thursday, according to data from the Bankers Association of the Philippines.
The peso opened at P48.07, hitting a low of P48.095. The high was P48.06.
Dollar volume surged to $1.09 billion, from $599.4 million previously.
“The peso was weaker vs. the dollar after new COVID-19 cases lingered higher, near 2,000 per day, the highest in more than a month and after some delay in the rollout of the Sinovac COVID-19 vaccine to March 2021 (from February 2021), in view of the 10-day inspection of inbound vaccine shipments,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said via Viber.
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