MANILA – The Philippine peso ended its three-day slide against the US dollar earlier this week after Chinese monetary officials allayed fears of a run-away yuan depreciation.
The peso ended the day at 46.15, Php 0.11 better after weakening to over five year-low of 46.26 Wednesday.
A trader said markets were soothed by Chinese monetary officials’ statement.
”Some investors also book gains after the recent rally of the dollar,” the trader said.
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said regional currencies were pressured by the People Bank of China’s (PBoC) decision but pointed out that “records show that that peso is least affected.”
For the day, the peso opened at 46.18, weaker than the 46.00 in the previous day.
It traded between 46.20 and 46.03 resulting an average of 46.12.
Volume of trade reached USD 747.7 million, down from the USD 1.11 billion a day ago.
The current exchange rate of USD as of August 14, 2015 via BSP; USD stands at 46.12/$ at a buying rate of 45,90 and a selling rate of 46.40. pna
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