Peso closes at P51.08:$1, stocks up slightly

August 25, 2017

The peso weakened slightly, but the Philippine currency recovered to close a bit lower from the previous day.

The peso closed at P51.08 against the US dollar after hitting a low of P51.145. Friday's close was the first time in three weeks that the peso closed higher from the previous week.

Volume at the Philippine Dealing System went down from Thursday's $1,14 billion to Friday's $590.20 million.

The Philippine Stock Exchange index closed 10.21 points higher to end at 8,015.14. At the broader market, gainers and decliners were even at 97 while there are 48 issues unchanged.

Volume reached 1.77 billion shares worth P6.25 billion. Foreigners were net buyers, with P2.95 billion worth of stocks brought compared to P2.93 billion sold.

Leading most active shares were  Phoenix Petroleum, up 1.67 percent to P12 and Banco de Oro, down 0.31 percent to P127.10. DMS