Peso rises on reports of growing Chinese exports, imports
More News from Philippine Daily Inquirer
MANILA, Philippines — The peso inched up on Wednesday as reports of growing Chinese exports and imports lifted outlook on emerging economies.
The local currency closed at 40.835 against the US dollar, up by 3.5 centavos from Tuesday’s finish of 40.87:$1.
Intraday high hit 40.81:$1, while intraday low settled at 40.86:$.
Volume of trade amounted to $944.15 million from $872.45 million previously.
Reports released Wednesday said China’s exports grew 14.7 percent while imports rose by 16.8 percent in April, beating most projections.
Analysts said favorable trade data for China indicated that the world’s second-largest economy could avoid a slowdown, which would be an advantage also for its trade partners like the Philippines.
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
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