THE PESO rebounded against the dollar on Wednesday following dovish comments from US Federal Reserve Chair Jerome H. Powell.
The local unit closed at P58.725 per dollar on Wednesday, strengthening by seven centavos from its P58.795 finish on Tuesday, Bankers Association of the Philippines data showed.
The peso opened Wednesday’s session slightly stronger at P58.77 per dollar. Its weakest showing was at P58.83, while its intraday best was its close of P58.725 versus the greenback.
Dollars exchanged decreased to $779.72 million on Wednesday from $915.14 million on Tuesday.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.