Dollar-Peso Exchange Rate
USD/PHP prices broke down today, closing 18.5 centavos lower to Php50.195, US equity markets actually continued its strong performance overnight causing the greenback to trade higher. As a result, USD/PHP initially gapped up at the open to Php51.150 and reached an intraday high of Php51.160 before trading on an offered tone for the rest of the session. Market players were also seen shedding long dollar positions ahead of tomorrow night’s risk event in the form of the scheduled FOMC statement and press conference. The local pair soon broke through the psychological support level of Php51.000, before eventually closing at the day’s low of Php50.915.
|AM WT AVERAGE:||51.092||51.192|
|AM VOLUME (in millions):||$ 338.70||$ 254.70|
|PM WT AVERAGE:||50.989||51.161|
|PM VOLUME(in millions):||$ 401.50||$ 248.20|
|PDS WT AVERAGE:||51.036||51.177|
|TOTAL VOLUME(in millions):||$ 740.20||$ 502.90|