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Article: NEWS IN BRIEF; P/$ rate closes at P56.315 to $1.(Business)
- Article from:
- Manila Bulletin
- Article date:
- October 22, 2004
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The peso closed lower at P56.315 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P56.30 the previous day. The weighted average rate appreciated to P56.295 from P56.322. Total volume amounted to $173 million.
Interest rates unchanged
The Bangko Sentral ng Pilipinas left interest rates unchanged Thursday despite a sharp rise in domestic inflation. The central banks overnight interest rates have been kept steady for over a year now at 6.75 percent for borrowing and 9.00 percent for lending, their lowest levels in 12 years. Bangko Sentral governor Rafael Buenaventura said that as in previous ...