Peso sustains strength vs. USD to 44.67

January 15, 2015 2:09 am 

By Joann Santiago

MANILA, Jan 14 (PNA) — Sustained drop in US Treasury yields continued to fuel the Philippine peso’s appreciation Wednesday.

This after the local unit ended the day P0.10 better again at 44.67 from 44.77 a day ago.

”Foreign placements in the local equity market continue to go up and helped the peso again,” a trader told PNA in an interview.

For the day, the local currency opened at 44.71, a tad better than the 44.88 in the previous trading.

It traded between 44.75 and 44.64 bringing the day’s average at 44.68.

Volume of trade reached USD 706.1 million, lower than the USD 911 million Tuesday.

There will be no trading on Thursday and Friday and on Monday next week after Malacanang declared a special non-working holiday in the National Capital Region (NCR) from January 15-16 and 19 due to the visit of Pope Francis in the country.

Next week, the currency pair is seen to trade between 44.70 and 45.00. (PNA)

CTB/JS/EDS

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