Peso falls to 47.15 to the dollar FILE PHOTO FILE PHOTO

The peso opened at its lowest level for the year following a strong US employment report that bolstered expectations of a rate hike by the US Federal Reserve in December.

On Monday, the local currency started trading at 47.10-to-$1. Before noon, the peso’s intra-day low was 47.15: $1. Last Friday, the peso closed at 46.935: $1.


Should the peso close at its intra-day low or at its opening price, it would be the weakest level in more than five years. The currency’s weakness follows a report at the weekend showing US unemployment at its lowest since 2007, fueling a rally for the greenback.

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: dollar, exchange rate, Peso
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2019 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.