News Formal

Peso back at P56:$1; stock market also up

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 22 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 92%

Peso News

Back,At,P56:$1

THE peso returned to the P56:$1 level on Tuesday and the stock market also rose amid improved sentiment ahead of Thursday's Bangko Sentral ng Pilipinas policy meeting.

THE peso returned to the P56:$1 level on Tuesday and the stock market also rose amid improved sentiment ahead of Thursday's Bangko Sentral ng Pilipinas policy meeting.The currency strengthened by 35.6 centavos to P56.96 against the dollar, its strongest close since April 15's P56.808:$1, while the benchmark Philippine Stock Exchange index added 37.08 points, or 0.56 percent, to 6,650.44.The broader All Shares index also rose, by 11.46 points or 0.32 percent, to 3,610.00.

chief economist Michael Ricafort said that a decreased likelihood of a policy rate cut, following higher-than-expected inflation, had bolstered the peso.Philstocks Financial Inc. senior research analyst Japhet Tantiangco, meanwhile, tagged the peso's gain as having lifted the PSEi.'Investors' appreciation of Q2/1H corporate results also helped in bringing the market up,' he added.Regina Capital Development Corp.

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:

 /  🏆 2. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Peso, stock market end rally ahead of BSP policy meetingTHE peso snapped an eight-day win streak and the stock market also ended a three-day rally to open the trading week.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Stock market plunges 2.58%; peso rises to P57:$1 territoryTHE stock market plunged on Thursday on continued fears of a US recession, but the peso closed at its strongest in over two months as rate cut expectations heightened.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Peso, stock market reboundTHE peso and stock market rebounded on Wednesday after declines since the start of the week, closing out the month on a positive note.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Stronger dollar hits peso; stock market up anewTHE peso fell on Monday as the dollar gained following an assassination attempt against former US president Donald Trump while rate cut hopes again lifted the stock market, which surged to the 6,700 level before it pared down the day's gains.
Source: TheManilaTimes - 🏆 2. / 92 Read more »