{"id":163463,"date":"2018-05-12T23:50:36","date_gmt":"2018-05-13T03:50:36","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=163463"},"modified":"2018-05-12T23:50:36","modified_gmt":"2018-05-13T03:50:36","slug":"peso-sinks-local-stocks-leap-to-7700-level-as-weeks-trading-ends","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/05\/12\/peso-sinks-local-stocks-leap-to-7700-level-as-weeks-trading-ends\/","title":{"rendered":"Peso sinks, local stocks leap to 7,700 level as week&#8217;s trading ends"},"content":{"rendered":"<figure id=\"attachment_60246\" aria-describedby=\"caption-attachment-60246\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-60246\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757.jpg\" alt=\"shutterstock\" width=\"1000\" height=\"667\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757.jpg 1000w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/08\/shutterstock_233280757-300x200.jpg 300w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-60246\" class=\"wp-caption-text\">Volume totalled to 673 million shares amounting to PHP 5.68 billion (Shutterstock photo)<\/figcaption><\/figure>\n<p><strong>MANILA<\/strong>\u00a0&#8212; 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.<\/p>\n<p>The Philippine Stock Exchange index\u2019 (PSEi) rose by 2.39 percent, or a hefty 181.11 points, to 7,752.11 points when the closing bell rang.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Volume totalled to 673 million shares amounting to PHP5.68 billion.<\/p>\n<p>Gainers surpassed losers at 116 to 80 while 49 shares were unchanged.<\/p>\n<p>The local currency closed the day at 52.19, weaker by 39 centavos than Thursday&#8217;s finish of 51.8.<\/p>\n<p>The peso began the day&#8217;s trade at 51.95, reaching a high of 51.9 and a low of 52.21.<\/p>\n<p>BSP Governor Nestor Espenilla Jr. announced on Thursday that the Monetary Board (MB) has raised policy interest rates by 25 basis points &#8212; the first upward adjustment of key rates since September 2014.<\/p>\n<p>Espenilla said the MB\u2019s 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 \u201cwill avoid the necessity of further stronger action down the road\u201d.<\/p>\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0&#8212; The Philippine peso tumbled back to the 52-to-the-greenback level on Friday but the main stocks gauge charged past the &hellip;<\/p>\n","protected":false},"author":33,"featured_media":60246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[15398,12556],"class_list":["post-163463","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-philippine-peso","tag-philippine-stock-exchange-index","mauthors-filane-mikee-cervantes","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/163463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=163463"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/163463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/60246"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=163463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=163463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=163463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}