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Peso rises on reports of payroll increase in US


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.

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.

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Tags: Business , business and finance , currencies , economy , Foreign Exchange , Philippine peso , US dollar , US economy , US employment

  • oh_noh

    report pa lang tungkol sa tate, lumakas na yung piso!
    e yung inilakas ng piso, may “pag-asa” ba man lang na bumaba ang presyo ng mga bilihin?
    cheers to a strong economy – in paper!

  • http://twitter.com/hp2184 RJ Legaspi

    Strengthening peso should not affect OFW’s and their families if they budget their money appropriately and stick to it. 

    • parefrank

      Are you crazy? The peso rises because the USA improves? Should not the dollar rise for such reason? And budgetin appropriate? What is appropriate if importers can buy their goods with less pesos but the sell it for more pesos, increasing local prices again and again? The only profiteers are the government which gets the remittances cheaper and cheaper, the big import business and the money speculators, really invited by the BSP policy. Common people and OFW families are the dumb milking cows.
      Everywhere in the rest of the world, the currency of an improving country will rise, in RP it is contrary. Super economic management.

    • malek_abdul

      OFW ka rin and you know how much is the impact of the appreciation of the peso. Example na lang if you are earning 1000 dollars a month noon at ngayon, you will clearly see the big difference in the exchange rate. Sa rate ngayon na P40.595 against the dollar ang 1000 dollars mo ay equivalent to P40,595 kompara noon 1:50 ang 1000 dollars mo ay tumataginting na 50K pesos. More or P9500 din ang difference dba? Malaki rin ang mararating ng P9K.

  • 18C0501

    “Habang lumalakas ang PISO, lalong nalulungkot ang mga OFW at mga Pamilya nila.”
    Tanong kulang po… Tama ho ba ang asal na eto??? 

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