Dollar-Peso Exchange Rate
US Dollar index (DXY) retreated slightly overnight, as profit taking took place on long dollar positions. USD/PHP was a different story though, as the local pair closed another 5.5 centavos higher to Php50.345. Despite the greenback trading softer against other currencies, the local pair was well bid on the back of suspected fixing demand. Monetary presence in the Php50.300 level seen yesterday was missing today, which allowed prices to reach an intraday high of Php50.370 before eventually closing at Php50.345. In other news, the Bangko Sentral ng Pilipinas (BSP) kept key rates on hold as widely anticipated by the market.
|AM WT AVERAGE:||50.325||50.215|
|AM VOLUME (in millions):||$ 539.40||$ 384.50|
|PM WT AVERAGE:||50.331||50.265|
|PM VOLUME(in millions):||$ 263.00||$ 342.75|
|PDS WT AVERAGE:||50.327||50.239|
|TOTAL VOLUME(in millions):||$ 802.40||$ 727.25|