The peso appreciated to the P49-level on Friday, Nov. 12, to close the day at P49.85 vis-à-vis the US dollar.
Analysts’ currency outlook point to the support of the peso at P50 as traders continued to break this level. “The local currency rose 0.95 percent week-on-week to P49.85 for the third straight week. This comes after the central bank reiterated its commitment to a market-determined exchange rate,” said BDO analysts. BSP Governor Benjamin E. Diokno has reiterated that they can prop up the peso with healthy reserves which as of end-October, amounted to $108 billion.
The peso was last at P49 range in September this year. The last time it averaged at the P49 level was in July this year. The currency has been averaging monthly at P50 since August this year.
Doomsayers ate their words! Onwards Philippines🇵🇭👊
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NCR movie theaters reopenA cinema employee hands a patron’s ticket stub back for entry at the Gateway Cineplex in QC after authorities allowed movie theaters to operate
Source: ABSCBNNews - 🏆 5. / 83 Read more »
‘Real estate will definitely bounce back rapidly,’ says Filipino Homes’ FounderCEBU, Philippines -- Top brokers, salespeople, and real estate professionals gathered for this year’s Real Estate Leaders Congress 2021 hosted by Filipino Homes on November 5, 2021 at Radisson Blu,
Source: cebudailynews - 🏆 8. / 71 Read more »
No follow up to Olympic gold as Hidilyn Diaz backs out of worldsCEBU CITY, Philippines --Not prepared enough and knowing that she doesn’t stand a chance, Tokyo Olympics gold medalist Hidilyn Diaz has withdrawn from the World Weightlifting Championship slated
Source: cebudailynews - 🏆 8. / 71 Read more »
PH posts 1,894 more COVID-19 casesThe Philippines' total fatalities due to COVID-19 rose to over 45,000 on Friday after logging 170 more deaths, majority of which were first classified as recoveries, DOH said. What do we expect...pretensions as if Philippine is back to normal situation like prepandemic...This govt is rushing things so that normal election and vote buying will be on the loose again...😡😡😡
Source: ANCALERTS - 🏆 26. / 50 Read more »
Gokongwei-backed Cashalo eyes expansion of 'buy now, pay later' service in VisMinCashalo, the fintech joint venture of Gokongwei-owned JG Summit Holdings Inc. and Hong Kong-based Oriente, seeks to cement its name in the growing 'buy now, pay later' trend as it expands its service to the Visayas.
Source: CNN Philippines - 🏆 13. / 63 Read more »
Song Hye-kyo’s new drama is for the fashion-obsessedSong Hye-kyo is back in business, baby. The actress is starring in a new drama called “Now, We Are Breaking Up,” dropping on Nov. 12. If you can’t tell from the title, the show is going for a more …
Source: inquirerdotnet - 🏆 3. / 86 Read more »