The peso closed at P51.23 against the dollar Friday, appreciating from its Thursday finish of P51.34, according to the Bankers Association of the Philippines.The peso opened Friday’s session at P51.34. The low was P51.35 and the high P51.21.The peso was reacting to the government’s announcement that it will ease travel restrictions on arriving Filipinos and some foreigners, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
Cabinet Secretary Karlo Alexei B. Nograles said at a briefing Friday that fully-vaccinated international passengers will no longer need to go to a designated facility to quarantine upon arrival starting February. They will instead need to present a negative PCR test, taken within 48 hours before departure from the country of origin.
Arriving travelers are currently categorized under color-coded scheme depending on the perceived infection risk of their country of origin. A trader said the market was hopeful that restriction measures will ease as infections are decreasing.Metro Manila and some provinces which saw a COVID-19 surge are under Alert Level 3 until the end of the month. —
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