Peso steadies, closes at P50.55 against US dollar
July 12, 2017
The peso remained steady on Wednesday even as central bank governor Nestor Espenilla Jr urged Filipinos not to "stress" over the Philippine currency's recent declines. The peso closed at p50.55 against the US dollar from P50.53. Volume at the Philippine Dealing System reached $595.7 million from the previous day's $629.5 million. "There will be days we are higher. There will be days that we are weaker. That’s the nature of these prices. So don’t look at it on a day to day basis. Don’t stress over it," Espenilla said over ANC Tuesday night.
"As far as the BSP ( Bangko Sentral ng Pilipinas) is concerned, we are there. We are managing that there is no excessive volatility," Espenilla added.
The peso fell to P50.87 in intraday trading on Tuesday before recovering to close at P50.53 against the dollar.
The peso opened at P50.65 and hit its strongest at P50.45 against the greenback.
the Philippine Stock Exchange index ended 80.23 points higher to 7,938.37. In the broader market, there were 125 gainers, 85 losers and 42 unchanged.
Volume reached 1.59 billion shares worth P9.35 billion. Foreigners were net buyers with P4.01 billion while selling was P3.77 billion.
Gainers were led by Acesite (Philippines) Hotel Co, up 15.61 percent to P2.00 and Lorenzo Shipping Corp., up 13.69 percent to P1.81.
Most active shares were led by Metrobank up 0.21 percent to P95.15 and Ayala Land, up 1.15 percent to P41.55. DMS
Latest Videos
- GEORGE SOROS BLASTED THE U S FOR SUPPORTING ISRAEL ON NOT WORKING WITH HAMAS
- WIKILEAKS REVELATIONS SHOW U S ‘IGNORED’ TORTURE FROM THE WAR IN IRAQ
- THE ROOTS OF THE ISRAEL PALESTINE CONFLICT
- TUCKER CARLSON QUESTIONS U.S SUPPORT FOR ISRAEL WAR
- RFK Jr TO RUN FOR PRESIDENT AS INDEPENDENT, DECLARING INDEPENDENCE FROM THE TWO POLITICAL PARTIES
- JAPANESE VIROLOGIST SAYS OMICRON MAY HAVE BEEN MANUFACTURED
- JAPANESE VIEW & FILIPINO BEAUTY
