Budget approval, dollar flows boost peso 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.
December 27, 2020 | 11:40 pm Font Size
BW FILE PHOTO
THE PESO is expected to move sideways in the last trading week of 2020 amid the holidays and on expectations that next year’s budget will be signed on Monday.
The local unit closed at P48.07 per dollar on Wednesday, appreciating by 2.5 centavos from its P48.095 close on Tuesday, data from the Bankers Association of the Philippines showed.
Week on week, it rose by 1.5 centavos from its P48.085-a-dollar finish on Friday. Financial markets were closed on Dec. 24 and 25 for the Christmas holidays. Trading sessions will resume on Monday.
The peso will likely move sideways or strengthen further as the markets expect more remittances to come in from overseas Filipino workers (OFWs) in time for the holidays according to Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort.
December 23, 2020 | 6:21 pm Font Size
PHILSTAR/MIGUEL DE GUZMAN
THE PESO appreciated against the greenback on Wednesday on the back of remittance flows for the holiday season.
The local unit closed at P48.07 per dollar, gaining 2.5 centavos from its P48.095 finish on Tuesday, data from the Bankers Association of the Philippines showed.
It also appreciated by 1.5 centavos against its P48.085 per dollar finish on Friday. Financial markets are closed on Dec. 24 and 25 for the Christmas holidays.
The peso started Wednesday’s session at P48.075 versus the dollar. Its weakest showing was at P48.085 while its intraday best was at P48.045 against the greenback.
Peso steady on subdued trade ahead of holidays 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.
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