Thursday 23 November
Powered by Ajaxy
Sep 8, 2017 @ 9:38

Peso returns to P50 level versus the dollar


The peso has been trading stronger against the dollar for five straight days to log its best showing in a month.

The peso closed at P50.93 on Sept. 7, breaking the P51 level after a month hovering at that rate as the dollar continued to weaken when compared to a host of other currencies.

Thursday’s close appreciated from the P51.095 per dollar rate logged the previous day, and is the best showing since a month ago.

Analysts attributed the exchange rate adjustments to recent news from the United States, which saw the hawkish Federal Reserve vice-chair Stanley Fischer hand in a resignation later which takes effect sometime in October.

Geopolitical tensions have also been said to turn investors away from the US towards Asian currencies for safety.

Will this level hold? Stay tuned.

Tags: , , , ,

Related Stories
Major tobacco companies will run newspaper and television advertisements in the United States starting this
UN negotiations on implementing the Paris climate change agreement wrap up Friday after two weeks
Department of Energy (DOE) Secretary Alfonso Cusi signed a deal with the Russian Federation State
PLDT Inc. is expanding its international cable system capacity to 4.497 Terabits per second by


Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo -