Peso remains firm vs. USD

MANILA, July 24 (PNA) — The Philippine peso ended Wednesday at 44.21, little changed from the 45.19 a day ago as investors await more developments from Greece.

This, as Greece officials continue the battle to approve austerity measures such as tax hikes and pension cuts, which are among the requirements for it to get its third bailout program.

The planned bailout program will have each eurozone government shelling out about 40 billion to 50 billion euro in addition to the share of the International Monetary Fund (IMF) among others.

A trader said all eyes are on Greece since it has been given by its creditors until Wednesday this week to approve austerity measures.

With these factors, the local unit opened the day at 45.

19, sideways from the 45.23 a day ago.

It traded between 45.15 and 45.27 resulting to an average of 45.

20.

Volume of trade reached USD 629.2 million, slightly higher than the USD607.4 million in the previous trading.

For Thursday, the currency pair is seen to trade between 45.10 and 45.30.