Filtered By: Money
Money

Peso closes weaker at P51.16 vs US$1


The Philippine peso on Thursday closed weaker at P51.16 per US dollar, compared to Wednesday’s P51.12 close. Volume was at $363.5 million. The greenback was traded between P51.11 and P51.185. The currency opened at P51.11, point one percent higher than the previous closing. At midday, the US dollar was dealing between P51.11 and P51.185 with a weighted average of P51.155. Volume was at $250.5 million. Economists said a lower currency rate on Thursday was affected by some political factors which left investors confused if they would give more units within the day. Few hours before the peso closed, the five party-list representatives who were accused of rebellion, testified before the Department of Justice that they were innocent of the accusations hurled against them by the Philippine National Police-Criminal Investigation Group. Meanwhile, the lawyer of Virgilio Garcillano, former Commission on Election commissioner, dared lawmakers to file a case against him for his alleged possession of a fake passport. The alleged fake passport was the one he showed to lawmakers during the “Hello, Garci!" hearing at the House of Representatives last February. The Philippine Stock Exchange reported that share prices remained firm for the six consecutive sessions as the main index advanced 8.08 points or .3698 percent at 2,192.78. The broader all shares was up 10.05 points or .7518 percent at 1,346.90. Financials increased 4.19 points or .5995 percent at 703.15. Industrial climbed at 17.94 points or .5825 percent 3,097.86. Holding firms rose 24.68 points or 2.3038 percent at 1,095.94. Property retreated 1.02 points or .1136 percent at 896.73. Services index was down 1.92 points or .1818 percent at 1,054.13. Mining & oil decreased 27.57 points or .8408 percent at 3,251.56. Advancers outnumbered decliners at 75 to 21 while 48 shares unchanged. The Philippine Long Distance Company hit P5.00 at 1,890 shares. SM Investments Corporation ended P10.00 at 233 per share. San Miguel Corporation A was up P5.00 at 60.5 shares while San Miguel Corporation B marked P5.00 at 81.5 per share. Dealers said fund managers projected a large cap stocks for their portfolios that would be ahead of the present quarter for the month of March. They also said the recent positive economic data and earning reports uplifted the market and were advanced six of the seven straight closing sessions.-GMANews.TV