The local unit closed at P52.31 per dollar on Wednesday, appreciating by 10.5 centavos from its P52.415 finish on Tuesday, based on Bankers Association of the Philippines data. READ:
The local unit closed at P52.31 per dollar on Wednesday, appreciating by 10.5 centavos from its P52.415 finish on Tuesday, based on Bankers Association of the Philippines data.
Data released by the Bangko Sentral ng Pilipinas on Tuesday showed cash remittances rose by 2.5% to $2.668 billion in January from $2.603 billion a year earlier. This marked the 11The central bank expects remittances to grow by 4% in 2022. Reuters reported that oil prices were down by more than 6% on Tuesday, reaching their three-week lows after some progress with the diplomatic talks between Moscow and Kyiv. A Ukrainian negotiator said both parties are negotiating on a ceasefire and the withdrawal of Russian troops.on Tuesday dropped by $6.99 or 6.5%, to settle at $99.91 a barrel. Meanwhile, US West Texas Intermediate crude declined by $6.57 or 6.4%, to settle at $96.44 a barrel.
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