MANILA – Worries about Greece’s situation and its impact on global markets made the Philippine peso moved sideways against the greenback Yesterday.
It ended the trade at Php45.11 from Php45.09 in the previous trading.
A trader said worries about developments in Greece, which failed to meet its June 30 deadline to pay the International Monetary Fund (IMF) 1.5 billion euro, made markets cautious.
“All eyes are on the July 5 referendum and some are hopeful that creditors will consider Athen’s new 29.18 bllion euro bail-out package,” the trader said.
The local unit started the day at Php45.10 from Php45.15 a day ago.
It strengthened to Php45.04 but also pulled to Php45.12 bringing the day’s average to Php45.07.
Volume of trade reached US$ 453.2 million, lower than the US$ 488.8 million in the previous trading.
Today, the currency pair is seen to trade between Php45.10 and Php45.30. pna
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