The local unit closed at P55.15 per dollar on Friday, weakening by six centavos from its P55.09 finish on Thursday, Bankers Association of the Philippines data showed. READ:
FAMILIES browse through various stalls selling food and affordable gift items at the city plaza of Imus, Cavite on Friday night. — PHILIPPINE STAR/ MIGUEL DE GUZMAN
The local unit closed at P55.15 per dollar on Friday, weakening by six centavos from its P55.09 finish on Thursday, Bankers Association of the Philippines data showed.The peso opened Friday’s session weaker at P55.25 per dollar. It dropped to as low as P55.35, while its intraday best was at P55.15 against the greenback.A trader said in a Viber message that the peso weakened on Friday against Thursday’s strong dollar close after a positive revision in US gross domestic product data.
For this week, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the peso would still be affected by the increased holiday spending, resulting in increased conversion of remittances to pesos.
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