Peso takes a breather on renewed interest on equities
MANILA, Feb. 14 — The Philippine peso ended the week sideways to a dollar at 44.28 from day-ago’s 44.37 partly buoyed by investors’ preference to put funds in the local equities market.
A trader said investors are still worried about the impact of the debt crisis in Greece and the political situation in Ukraine.
”But the peso took a breather on renewed interest in the local equities and new capital flows,” the trader said.
For the day, the local currency started the trade at 44.28, way better than the 44.42 Thursday.
It traded between 44.31 and 44.24 resulting to an average of 44.27.
Volume of trade reached USD 459.8 million, lower than the previous trading’s USD 640.2 million.
Next week, the trader forecasts the currency pair to trade between 44.20 and 44.50. (PNA)