Thursday, February 22, 2018
Close  
  • share this

Peso rises on reports of payroll increase in US

/ 07:06 PM February 04, 2013

MANILA, Philippines—The peso rose on the first trading day of the week as the market responded favorably to reports of an increase in payrolls in the United States.

The local currency closed at 40.595 against the US dollar, up by 10 centavos from Friday’s finish of 40.695:$1.

Intraday high hit 40.58:$1, while intraday low settled at 40.67:$1.

ADVERTISEMENT

Volume of trade reached $938.5 million from $736.55 million previously.

The appreciation of the peso came together with the strengthening of some other Asian currencies, demand for which was boosted by reports of the improving employment situation in the world’s biggest economy.

Traders said reports that payrolls in the non-farm sector of the United States grew in January from a year ago fueled positive sentiment for the global economy, thereby lifting appetite for emerging-market assets, including peso-denominated ones.

The appreciation of the peso came with the increase in the Philippine Stock Exchange Index (PSEi) by 117.37 points to 6,435.98.

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, business and finance, currencies, economy, Foreign Exchange, Philippine peso, US dollar, US economy, US employment
For feedback, complaints, or inquiries, contact us.
usa

Fil-Am to run for Bayonne, NJ City Council

February 23, 2018 01:23 AM

opinion

Big Bad Wolf

February 23, 2018 01:02 AM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved