カテゴリー: Business&Economy
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NEDA sees rosier PH economic prospects
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Economic managers undeterred by politics, welcome improved credit ratings
Peso closes at all-time high of P59 against US dollar
The peso closed at an all-time high of P59 against the US dollar on Thursday after finishing at P58.91 on Wednesday.
Volume at the Bankers Association of the Philippines reached $842.68 million, with trades amounting to $426.48 million in the morning when the peso averaged at P58.968 against the dollar.
”We are at an all-time high,” said economist Jonas Ravelas in a social media post. ”The highest since Oct. 20, 2022.”
”The greenback continues to strengthen, gaining momentum after Donald Trump’s re-election.
Economist Emmanuel Leyco told GMA News that ”immediately that prices of goods that we import, like fuel, will go up because we pay for them in dollars.” DMS