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Peso slightly falls

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Peso slightly falls

/ 09:48 PM December 20, 2012

AP

MANILA, Philippines—The peso slightly fell on Thursday amid uncertainties over whether talks by US policymakers on how to address the fiscal problem of the United States would prevent escalation of the problem.

The local currency closed at 41.07 against the US dollar, down by 3 centavos from the previous day’s finish of 41.04:$1.

Intraday high hit 41.035:$1, while intraday low settled at 41.075.

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Volume of trade amounted to $565.2 million from $811.2 million previously.

Traders said the market has been monitoring developments in the United States particularly on how authorities would address fiscal problems, which could further dampen the superpower’s anemic growth if left unaddressed.

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TAGS: business and finance, currencies, economy, Foreign Exchange, Philippine peso, Philippines, US dollar
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