Business and Economy
PHP improves vs USD on lower Brexit expectations
(ShutterStock image)
MANILA – Increased sentiment towards the preference for United Kingdom to remain in the European Union (EU) was positive for the Philippine peso, which closed better to a dollar Monday.
The local unit ended the day at 46.
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33 from the 46.44 Friday last week.
A trader said improvement of the local bourse, also due to lower expectations for a Brexit, helped the peso during the day.
The local currency opened the week at 46.39, sideways from the 46.35 in the previous session.
It traded between 46.30 and 46.42 resulting to an average of 46.
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36.
Volume of trade reached USD 428.
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35 million, lower than the USD 529 million in the previous trading.
On Tuesday, the currency pair is seen to trade between 46.
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30 and 46.50.
