THE peso regained more ground on Tuesday, but the stock market closed flat after looking set for a rebound earlier in the day.
The currency strengthened by nine centavos to P57.81 against the dollar while the benchmark Philippine Stock Exchange index shed 1.49 points, or 0.02 percent, to 6,433.24.The broader All Shares index added 4.47 points, or 0.13 percent, and ended the day at 3,520.94.The peso opened at P57.96 to the greenback and ranged from P57.8 to P58.02. Volume fell to P1.214 billion from P1.762 billion a day earlier.Rizal Commercial Banking Corp.
''Negative cues from Wall Street overnight clouded investors while the BSP governor's statement that it sees room to keep interest rates elevated amid 'evolving inflation conditions' weighed on the sentiment,' he added.'The inflation data for July which came in at 4.4 percent, breaching the government's target range of 2 percent to 4 percent, was also digested.'Regina Capital Development Corp.
Halts Psei Rebound Peso Up Anew Vs Dollar
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