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Peso dips on news of slight increase in inflation rate

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MANILA, Philippines—The peso fell on Tuesday after the government reported that inflation minimally rose in January.

The local currency closed at 40.645 against the US dollar, down by 5 centavos from the Monday’s finish of 40.595:$1.

Intraday high hit 40.62:$1, while intraday low settled at 40.65:$1.

Volume of trade amounted to $740.4 million from $938.5 million previously.

The depreciation of the peso came following the release of a report showing that inflation settled at 3 percent in January, faster than the 2.9 percent registered the previous month.

Some economists said inflation might accelerate further in the coming months, although would likely remain within the government’s target band of 3 to 5 percent.

Traders said inflation, which would reduce the value of investment yields, would be a key factor to be considered by fund owners in making investment decisions.

For its part, the BSP said inflation would likely remain below 4 percent this year but added it would implement measures should existing factors affecting prices change.


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Tags: Business , economy , Foreign Exchange , Inflation , Philippine peso , US dollar

  • http://profile.yahoo.com/7QEO7KWQ7AJN2VUWDR56MQQPLQ jun

    kala ko lumalakas ekonomiya? bakit hindi bumababa presyo ng  gasolina? mura ang dollar ngaun  dapat mura ang angkat ng langis. pag mura langis, magmumura din ang bilihin at serbisyo. fake ata ito.

  • ARIKUTIK

    It was not long ago that dollar exchange rate of PH Peso and India Rupee is at par at 45 per US dollar. Now Peso is 40.+ while India is 55. But India got booming manufacturing export industries like cars, watches, medicines, mobile phones among other High Tech. products. The PH got nothing for export to be proud of except OFW’s. PH economy was mis manage since Penoy become president. The Peso is overvalued closing down export industries.

  • oh_noh

    kung di rin naman bababa ang mga presyo ng bilihin… more “dippings” please :)

    cheers to a strong economy – in paper!

  • bogli_anakdami

    dang! “Volume of trade amounted to $740.4 million from $938.5 million previously.”…

    measely $740M??? that’s it?  and flip economists are all high up in sh!t for that amount..

    that’s not counting the flip traposakals kotongs/nakaws/bonus/pabaons???

    ay sus ginoo, putal lang yan dito sa kita ng aking kariton+bangketa+jueteng+sexy gurlz biznez aggregate..

    yun lang…



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