THE PESO rebounded against the dollar on Tuesday on expectations of slower May US consumer inflation and ahead of the US Federal Reserve’s policy decision.
The local unit closed at P58.68 per dollar on Tuesday, rising by 11 centavos from its P58.79 finish on Monday, Bankers Association of the Philippines data showed.
The peso opened Tuesday’s session stronger at P58.74 against the dollar. Its weakest showing was at P58.745, while its intraday best was at P58.66 versus the greenback.
Dollars exchanged rose to $1.05 billion on Tuesday from $604.85 million on Monday.
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