The local currency closed at P55.12 versus the greenback on Thursday, climbing by five centavos from Wednesday’s P55.17 finish, Bankers Association of the Philippines data showed. READ:
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The peso opened Thursday’s trading session weaker at P55.35 per dollar. Its intraday best was at P55.02, while its worst showing was at P55.39 against the greenback.“The peso appreciated amid expectations of a strong BSP policy rate hike today,” a trader said in a Viber message on Thursday. The rates on the central bank’s overnight deposit and lending facilities were also increased to 5.5% and 6.5%, respectively.ation rose by 8.7% year on year in January, faster than 8.1% in December 2022 and marking the 10Meanwhile, the US Federal Reserve earlier this month raised its target interest rate by 25 bps to a range between 4.5% and 4.75%, bringing cumulative hikes since March 2022 to 450 bps.
Total approved foreign investments stood at P241.89 billion last year, higher than the P192.55 billion in 2021 and more than double the P112.12 billion recorded in 2020. Meanwhile, the government raised P283.711 billion from its offering of 5.5-year RTBs that ended two days ahead of schedule, National Treasurer Rosalia V. de Leon told reporters on Wednesday.The 5.5-year retail bonds carry a coupon rate of 6.125%.
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