The local currency closed at P54.80 versus the greenback on Wednesday, rising by seven centavos from Tuesday’s finish of P54.87, data from the Bankers Association of the Philippines showed. READ:
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The local currency closed at P54.80 versus the greenback on Wednesday, rising by seven centavos from Tuesday’s finish of P54.87, data from the Bankers Association of the Philippines showed.The peso opened Wednesday’s trading session at P54.80 a dollar. Its weakest showing was at P55.04, while its intraday best stood at P54.75 against the greenback.A trader said in an e-mail that the peso strengthened after Mr.
Fed Governor Michelle Bowman said on Tuesday that the bank will have to raise interest rates further to combat high ination, along with other Fed officials remaining hawkish on future rate hikes by the Federal Open Market Committee , Reuters reported.
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