Peso inches up by half centavo
The local currency closed at 40.94 against the US dollar on Monday, up by half a centavo from Friday’s finish of 40.945:$1.
Intraday high hit 40.91:$1, while intraday low settled at 40.95:$1.
Volume of trade amounted to $597.7 million from $861.2 million previously.
The National Statistics Office is set to release on Tuesday data on the country’s export revenues for October. Traders were optimistic that export earnings for the month would turn out to be more favorable than in the earlier months of the year even with the debt and banking crisis in the eurozone, one of the key export markets.
Exports are largely volatile, but are expected to post positive growth in October amid efforts to gradually increase markets outside the United States and the eurozone.
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