MANILA, July 10 (PNA) – – The Philippine peso improved against the dollar Friday when it ended the week at 45.125 from 45.21 in the previous trading.
A trader attributed this to US monetary officials’ concerns about the Greece debt crisis, which made markets fear for a delay in the expected increase in the Federal Reserve’s key rates.
For the day, the local currency opened at 45.20, almost unchanged from the 45.19 a day ago.
It’s opening level is the peso’s weakest for the day after surging to 45.120 mid-trade.
This brought the day’s average to 45.15, sideways from the 45.17.
Volume of trade reached USD 456.9 million, lower than the USD 519 million in the previous trading.
Next week, the peso is seen to trade between 45.10 and 45.40 to a dollar depending partly on the result of the Greek debt talks set on Sunday. (PNA)