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

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.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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.
Fuente: TheManilaTimes - 🏆 2. / 92 Leer más »

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.
Fuente: TheManilaTimes - 🏆 2. / 92 Leer más »

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.
Fuente: TheManilaTimes - 🏆 2. / 92 Leer más »

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.
Fuente: TheManilaTimes - 🏆 2. / 92 Leer más »