MANILA, Sept. 2 (PNA) — The Philippine peso again closed sideways to the dollar Wednesday on renewed hopes for a September hike in the Federal Reserve rates as well as China’s move to avert speculative trading.
It ended the day at 46.70 from 46.68 a day ago, which a trader also traced to correction after the US dollar rally last week.
It opened the day at 46.73, also a slight change from the 46.75 a day ago.
It traded between 46.74 and 46.69 bringing the day’s average to 46.71.
Volume of trade reached USD 565.98 million.
For Thursday, the currency pair is seen to trade between 46.60 and 46.80. (PNA)