THE Philippine peso would likely be range-bound against the dollar this week, analysts said, as the market awaits inflation data releases both at home and in the US.
It closed at P56.077 a dollar on Friday, weakening by 11.2 centavos from its close on Thursday, according to Bankers Association of the Philippines data posted on its website. Week on week, the peso likewise sank by 38.7 centavos from its P55.69 finish on Sept. 20.
The peso traded sideways against the dollar on Friday after the US economic growth report came out steady from the previous period, Robert Dan J. Roces, chief economist at Security Bank Corp., said in a Viber message.
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