The local unit closed at P52.86 per dollar on Friday, losing six centavos from its P52.80 finish on Friday, based on Bankers Association of the Philippines data. READ:
versus the dollar this week on expectations that inThe local unit closed at P52.86 per dollar on Friday, losing six centavos from its P52.80It also dropped by 54 centavos from its P52.32 close a week earlier.
Oil prices settled higher, buoyed by expectations that the Organization of the Petroleum Exporting Countries’ decision to increase production targets by slightly more than planned will not affect tight global supply much and by rising demand as China eases the coronavirus disease 2019 pandemic-related restrictions, Reuters reported.
For this week, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said trading will likely be driven by US and Philippine inThe US consumer price index for the 12 months through April rose by 8.3%, down from an 8.5% annual rate reported in the prior month, which was the largest year-on-year gain in 40 years.
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