Peso closes near P53 to one US dollar, stocks up

June 11, 2018

The peso closed at a near 12-year low as it neared the P53 to a US dollar in afternoon trading on Monday.

The peso finished at P52.95 after it lost ground in afternoon trading where the Philippine currency averaged at P52.926. On Friday, the peso closed at P52.7.

Volume was lower than Friday's transactions. Turnover at the Bankers Association of the Philippines reached $653.1 million from $724.2 million.

The Philippine Stock Exchange index closed at 7,771.30, up 30.56 points. In the broader market, there were 103 gainers, 84 decliners and 49 shares unchanged.

Volume reached 849.38 million worth P4.01 billion from Friday's 826 .82 million valued at P5.28 billion. Foreigners were net sellers with P2.34 billion compared to purchases of P2.05 billion.

Index stocks were lower, with Metrobank closing one percent to P79.20 and SM Prime, down 1.86 percent to P37. But Semirara Mining and Power Corp. gained 4.67 percent to P31.40. DMS