Quantcast
Latest Stories

Peso dips on news of slight increase in inflation rate

By

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.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

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…



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Napoles tags over 100 officials in pork scam – Lacson
  • Vitangcol to sue Czech envoy
  • Senator’s kickback from pork bigger than those of Enrile, Estrada, Revilla – Lacson
  • 43 out of 414 Etihad passengers yet to be found, tested for MERS-CoV – Palace
  • Sandigan junks Marcos family claim to Paoay property
  • Sports

  • Caguioa blasts ‘no heart, soft’ Ginebra on Twitter
  • San Mig Coffee grinds out win over Alaska to force decider
  • UP nips St. Benilde; Adamson blasts RTU in Filoil women’s caging
  • Kevin Garnett responds to Raptors’ GM F word
  • Albert Pujols hits 500th HR of major league career
  • Lifestyle

  • Entering the monkhood a rite of passage
  • Haneda International Airport: A destination on its own
  • Wanted: Beauty queen with a heart that beats for the environment
  • Kim Atienza: At home with art and design
  • Life lessons I want to teach my son
  • Entertainment

  • Bollywood Oscars, film stars come to Florida
  • Ex-Fox exec denies allegations in sex abuse suit
  • Kris Aquino backtracks, says Herbert Bautista and her are ‘best friends’
  • Summer preview: Chris Pratt enters a new ‘Galaxy’
  • Bon Jovi helps open low-income housing in US
  • Business

  • SM to rebuild Tacloban hospital
  • PSEi slips after 4-day rally
  • Toyota sells 2.58 million vehicles, outselling GM
  • McDonald’s 1Q profit slips as US sales decline
  • SEC approves SM’s P15B retail bond offer
  • Technology

  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Mark Caguioa lambasts Ginebra teammates on Twitter
  • Opinion

  • One-dimensional diplomacy: A cost-benefit analysis of Manila’s security deal with Washington
  • No ordinary illness
  • Reforest mountains with fire trees and their kind
  • Day of the Earth
  • When will Chinese firm deliver new coaches?
  • Global Nation

  • 19 Ukrainians, Russians, Filipinas rescued in bar raid
  • Filipinos coming home from Mideast must obtain MERS clearance – DOH
  • US Secret Service in Manila ahead of Obama visit
  • Palace thanks Estrada for successful HK mission
  • Hong Kong accepts PH apology; sanctions also lifted
  • Marketplace