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Article: P/$ rate closes at P46.96/$ 1.(News In Brief)
- Article from:
- Manila Bulletin
- Article date:
- September 19, 2008
CopyrightCOPYRIGHT 2008 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The peso exchange rate closed lower at P46.96 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P47.08 the previous day. The weighted average rate depreciated to P47.206 from P47.008. Total volume amounted to $ 772 million
BSP props up currency
The Bangko Sentral ng Pilipinas was selling dollars in the market to support the struggling peso, traders said yesterday. ''The central bank is selling dollars to support the peso, from P47.28 to P47.29 (per dollar),'' said a trader in Manila. A second trader said the central bank was trying to prevent the peso from falling below the P47.30 level. Breaking that level would send the ...