THE peso fell and the stock market closed flat on Monday following the release of October remittances data and ahead of monetary policy decisions due later this week.
The currency weakened by 20 centavos to P58.671 against the dollar while the benchmark Philippine Stock Exchange index shed 1.35 points, or 0.02 percent, to 6,615.16.The broader All Shares lost 0.22 points, or 0.01 percent, and ended the day at 3,752.51.The peso opened at the day's low of P58.6:$1 and traded as high as P58.74. Volume dropped to P1.479 billion from P1.570 billion last Friday.Rizal Commercial Banking Corp.
'On a positive note, last minute bargain hunting trimmed the day's losses.'Tantiangco said the day's trading was 'anemic' with net value turnover at P4.45 billion, lower than the year-to-date average of P5.16 billion.'Foreigners were net sellers with net outflows at P495.90 million,' he added.Regina Capital Development Corp.
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