Peso closes at P50.29 against US dollar

June 21, 2017

The peso fell on Wednesday to P50.290 against the US dollar from P50.10 on Tuesday on lower volume at the Philippine Dealing System. The peso hit a day's low of P50.295 against the US dollar before recovering slightly. Turnover reached $727.25 from Tuesday's $1.155.50 million. Stocks also declined despite foreign buying. The Philippine Stock Exchange index lost 31.49 points to close at 7,886.37. In the broader market, there were 107 decliners 94 gainers and 41 unchanged, Volume reached 1.07 billion shares valued at P8.14 billion. Foreigners were net buyers, with P4.40 billion compared to selling of P4.06 billion. Among the day's gainers, Keppel Philippines bucked the market, rising 10.77 percent to P5.35 and Philab, up 8.83 percent to P6.04. Cebu Landmasters, which said it is building a 38-storey residential tower, gained 5.55 percent to P5.90. DMS