Peso hits 50 to the US dollar in intraday trade again
The peso touched the 50 against the US dollar during intraday trading for the second straight trading day but the currency closed a bit stronger at the Philippine Dealing System.
The peso closed at P49.995 from Tuesday’s P49.999 as volume rose from $363.80 million on Tuesday to $421 million.
Stocks ended with slight gains as the Philippine Stock Exchange Index finished 27.70 points higher to 6,686.36. In the broader market, advances led declines 109-49 with 48 issues remaining unchanged.
Foreign selling of shares reached P3.45 billion compared foreign buying worth P2.69 billion. DMS