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Article: NEWS IN BRIEF; P/$ rate closes at P56.045 to $1.(Business)
- Article from:
- Manila Bulletin
- Article date:
- August 20, 2005
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The peso rate closed lower at P56.045 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P55.93 the previous day. The weighted average rate depreciated to P56.007 from P55.918. Total volume amounted to $355.5 million.
Benguet bags water contract
Benguet Corporation disclosed yesterday it has secured a contract to supply water to Baguio City, in the northern Philippines, which has an initial capital requirement of P2.8 billion. Benguet said it won the bidding for a 25-year contract to deliver 50,000 cubic meters of treated water per day to Baguio. The contract is renewable for another 25 years. ...