The local currency closed at P55.085 versus the greenback on Tuesday, declining by 69.5 centavos from Monday’s P54.39 finish, data from the Bankers Association of the Philippines showed. READ:
February 7, 2023 | 9:00 pmTHE PESO sank to the P55-per-dollar level on Tuesday as January headline inflation was faster than expected and amid hawkish signals from the US Federal Reserve.
The peso opened Tuesday’s trading session at P54.65 per dollar. Its weakest showing was at P55.10, while its intraday best was at P54.60 against the greenback.The peso declined following the release of January inflation data and hawkish signals from a Fed official, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
Headline inflation was at a 14-year high of 8.7% in January, faster than the 8.1% in December and 3% a year ago.poll conducted last week and the 7.5% to 8.3% forecast range given by the Bangko Sentral ng Pilipinas for the month.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Peso may climb further vs dollar on dovish Fed, retail bond offer - BusinessWorld OnlineTHE PESO may strengthen this week after the US Federal Reserve delivered a smaller rate hike and with the government set to begin its retail Treasury bond (RTB) offer. The local unit closed at P53.68 a dollar on Friday, strengthening by 16.50 centavos from its P53.845 finish on Thursday, data from the Bankers Association of […]
Read more »
DOJ: 2 Japanese fugitives to be deported Tuesday“Yes we can, we will. Hopefully tomorrow, everybody. The worst case scenario is only two tomorrow, but we are working for everybody to be deported tomorrow,” Remulla said, adding that he expects Japanese escorts to arrive in the Philippines within the day.
Read more »
Birth dates, ‘lucky pick’ numbers lead to two bettors winning multimillion-peso lotto jackpotThanks to siblings’ birthdates and lucky picked numbers, a construction worker from Davao City and a hog raiser from Batangas won the multimillion-peso lotto jackpot prizes of the Philippine Charity Sweepstakes Office (PCSO).
Read more »
Peso slips, closes at 54.39 to $1The Philippine peso depreciated back above the 54:$1 level after two consecutive days below this threshold as the foreign exchange market corrected even if the US dollar was seen as pointed toward a path to weaker positions. | RonWDomingoINQ /PDI
Read more »
Pagasa: Fair weather in most parts of PH on TuesdayMANILA, Philippines — Generally fair weather is expected in most parts of the country on Tuesday, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration
Read more »