Connect with us

Business and Economy

Peso sinks, local stocks leap to 7,700 level as week’s trading ends

Published

on

shutterstock

Volume totalled to 673 million shares amounting to PHP 5.68 billion (Shutterstock photo)

MANILA — The Philippine peso tumbled back to the 52-to-the-greenback level on Friday but the main stocks gauge charged past the 7,700 level following the policy interest rate hike by the Bangko Sentral ng Pilipinas.

The Philippine Stock Exchange index’ (PSEi) rose by 2.39 percent, or a hefty 181.11 points, to 7,752.11 points when the closing bell rang.

All the other counters tracked the main index, with the All Shares up by 1.71 percent, or 79.24 points, to 4,709.15 points.

The sectors were led by the Financials, 2.54 percent, followed by the Holding Firms, 2.42 percent; Property, 2.39 percent; Services, 1.74 percent; Mining and Oil, 1.18 percent; and Industrial, 0.98 percent.

Volume totalled to 673 million shares amounting to PHP5.68 billion.

Gainers surpassed losers at 116 to 80 while 49 shares were unchanged.

The local currency closed the day at 52.19, weaker by 39 centavos than Thursday’s finish of 51.8.

The peso began the day’s trade at 51.95, reaching a high of 51.9 and a low of 52.21.

BSP Governor Nestor Espenilla Jr.

buy symbicort online health.buynoprescriptiononlinerxx.net/symbicort.html no prescription pharmacy

announced on Thursday that the Monetary Board (MB) has raised policy interest rates by 25 basis points — the first upward adjustment of key rates since September 2014.

Espenilla said the MB’s decision to hike overnight reverse repurchase facility to 3.25 percent and overnight lending and deposit facilities to 2.75 percent is a timely action, and “will avoid the necessity of further stronger action down the road”.

buy lipitor online health.buynoprescriptiononlinerxx.net/lipitor.html no prescription pharmacy

Likewise, the central bank raised inflation outlook to 4.6 percent in 2018 and 3.4 percent for 2019. Previous inflation projection of the BSP was at 3.9 percent and 3 percent for this year and next year, respectively.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maria in Vancouver

Lifestyle4 days ago

Celebrating My Womanhood

The month of March is all about celebrating women and what better way to celebrate it than by enjoying and...

Lifestyle4 weeks ago

Maria’s Funny Valentine With An Ex!

Maria in Vancouver can’t help but wonder: when will she ever flip her negative thoughts to positive thoughts when it...

Lifestyle1 month ago

The Tea on Vancouver’s Dating Scene

Before Maria in Vancouver met The Last One seven years ago and even long before she eventually married him (three...

Lifestyle2 months ago

How I Got My Groove Back

Life is not life if it’s just plain sailing! Real life is all about the ups and downs and most...

Lifestyle2 months ago

Upgrade Your Life in 2025

It’s a brand new year and a wonderful opportunity to become a brand new you! The word upgrade can mean...

Maria in Vancouver3 months ago

Fantabulous Christmas Party Ideas

It’s that special and merry time of the year when you get to have a wonderful excuse to celebrate amongst...

Lifestyle3 months ago

How To Do Christmas & Hanukkah This Year

Christmas 2024 is literally just around the corner! Here in Vancouver, we just finished celebrating Taylor Swift’s last leg of...

Lifestyle4 months ago

Nobody Wants This…IRL (In Real Life)

Just like everyone else who’s binged on Netflix series, “Nobody Wants This” — a romcom about a newly single rabbi...

Lifestyle4 months ago

Family Estrangement: Why It’s Okay

Family estrangement is the absence of a previously long-standing relationship between family members via emotional or physical distancing to the...

Lifestyle6 months ago

Becoming Your Best Version

By Matter Laurel-Zalko As a woman, I’m constantly evolving. I’m constantly changing towards my better version each year. Actually, I’m...