Peso declines to P50.345 against US dollar

June 22, 2017

The peso dipped to P50.345 from Wednesday's P50.29 against the US dollar as the Monetary Board decided to retain policy rates during its meeting. The peso hit a day's low of P50.37 after opening at P50.22. Volume at the Philippine Dealing System reached $802.40 million from the previous day's $727.25 million. Stocks declined despite foreign buying. The Philippine Stock Exchange Index lost 28.03 points to end at 7,858.34. In the broader market, there were 102 declines, 98 gainers and 47 unchanged. Foreign buying reached P4.91 billion compared to selling of P4.24 billion for net purchases of P670 million. Volume amounted to P2.90 billion worth P8.68 billion. Among stocks which bucked the trend were Lorenzo Shipping Corp up 19.78 percent to P1.09 and Keppel Philippines, up 18.39 percent to P6.18. Most active stocks were led by Universal Robina Corp, down 1.79 percent to P165 and SM Prime, down 0.87  percent P 34.05. DMS