Latest Stories

Peso slightly down



MANILA, Philippines—The peso moved sideways on Wednesday as the market waited for decisions of monetary officials of key economies on whether they would implement stimulus measures.

The local currency closed at 41.57 against the US dollar, down by just a centavo from the previous day’s finish of 41.56:$1.

Intraday high hit 41.44:$1, while intraday low settled at 41.595:$1.

Volume of trade reached $870.1 million from $592.8 million previously.

The slight movement of the peso came amid reports the central banks of the United States, the eurozone and China have been contemplating on implementing stimulus measures as a means to accelerate growth of their economies.

The eurozone is suffering from a recession, while the United States is confronted with weak growth. China still enjoys a healthy pace of growth but it is already much slower than what it used to register. The 7.6-percent gross domestic product (GDP) growth for China in the second quarter was its slowest in three years.

The US Federal Reserve and the European Central Bank, should they indeed implement another stimulus measure, are expected to do so by buying bonds and thus injecting liquidity to their economies. China is seen poised to also stimulate its economy to help avoid an even sharper slowdown.

Traders said that investors have been seeing emerging markets like the Philippines being affected by developments in other key economies. Prolonged crisis in the eurozone, inability of the US economy to post a more substantial recovery, and further slowdown of China are seen weighing down on the growth performance of emerging economies like the Philippines.

The United States, the eurozone and China are key export markets for many economies.

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 and finance , currencies , economy , Foreign Exchange , Philippine peso , US dollar

  • gisingpinas

    galing ninyong mag especulate, sana tubuan kayo ng pigsa sa noo ng di na kayo makapag isip ng kasinungalinan.

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


  • 16 workers in Batangas sugar cane factory hurt over toxic chemical shower
  • 16 workers in Batangas sugar cane factory hurt over toxic chemical shower
  • Korea ferry captain defends actions, bodies seen in ship
  • Traffic starts to build up at toll plazas on Black Saturday
  • Flash floods hit 9 Tagum villages
  • Sports

  • Hamilton takes pole at Chinese Grand Prix
  • Duke’s Rodney Hood joining Jabari Parker in NBA draft
  • Phelps entered in 3 events at comeback meet
  • Boston prepares for huge wave of marathon visitors
  • Motivated LeBron James preps for postseason
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • We treasure our Sierra Madre
  • OFW from UAE tests negative for MERS-Cov–health chief
  • Multicultural flock marks Good Friday in San Francisco
  • Las Vegas ‘Pinoy Pride’ fest hails Filipino heritage
  • Marking Jesus’ journey on Good Friday
  • Marketplace