Peso slightly down while PSEi recovers on Wednesday

By on August 31, 2017


The Philippine peso inched down to 51.13 against the US dollar on Wednesday, shedding two centavos from 51.11 on Tuesday. (Photo by Debbie Tingzon/Flickr, CC BY 2.0)
The Philippine peso inched down to 51.13 against the US dollar on Wednesday, shedding two centavos from 51.11 on Tuesday. (Photo by Debbie Tingzon/Flickr, CC BY 2.0)

MANILA¬† — The Philippine peso inched down to 51.13 against the US dollar on Wednesday, shedding two centavos from 51.11 on Tuesday.

It opened the day weak at 51.14 from its 51.08 opening rate Tuesday.

The currency pair was traded between 51.11 and 51.24, bringing the average level for the day at 51.17 to a dollar.

Volume of trade rose to USD567.45 million from USD548.9 million the previous day.

Meanwhile, the local bourse recovered Wednesday after a decline on Tuesday’s trading.

The Philippine Stock Exchange (PSE) index gained by 0.10 percent, or 8.34 points to 7,956.73.

Likewise, all shares improved by 0.03 percent, or 1.32 points, to end the day at 4,722.00.

Biggest gainer  was Services, increasing by 0.99 percent or 16.79 points to 1,714.89; followed by Mining and Oil, up by 0.26 percent to 13,152.79 points; Holding Firms, up by 0.19 percent to 7,852.15 points; and Industrial, up by 0.06 percent to 11,025.13 points.

Financials and Property counters settled in the red, declining by 0.47 percent and 0.14 percent, respectively.

Volume of trade reached 1.29 billion shares valued at PHP5.87 billion.

Decliners outpaced gainers at 101 to 91, with 53 left unchanged.