Peso weakens to P50.60, rallies to close at P50.47 against US dollar

June 30, 2017

The peso opened at an intraday low of P50.60 against the US dollar but recovered in afternoon trading to close at P50.47 on Friday. The peso closed at P50. 53 on Thursday. Volume at the Philippine Dealing System reached $760.90 million from the previous day's $564.70 million. This was the third straight week that the peso had weakened. The Philippine Stock Exchange gained 55.10 points to 7,843.16 on foreign buying. But at the broader market, there were 118 declines, 89 gainers and 38 unchanged. Volume reached 2.07 bilion shares worth P9.9 billion Foreigners bought P5.24 billion while selling P4.21 billion. Among gainers were Philippine Trust Co., up 24.45 percent to P141 and 8990 Philippines, up 10.18 percent to P6.60. Most actives were led by SM Investments Corp., up 1.65 percent to P803 and Ayala Land, up 1.92 percent to P39.75. DMS