MANILA, (PNA) –- The Philippine peso weakened slightly against the United States dollar on Monday ahead of Bangko Sentral ng Pilipinas (BSP) intervention.
The local unit closed at 43.09 from Friday’s 43.05.
“The peso depreciated a bit from Friday’s (close) due to some short coverings. Some players were short of dollar ahead of BSP intervention,” a trader said.
He added the local currency’s fall has reversed some offshore bullishness.
In Monday’s trading, volume of transactions was thin at $ 687.20 million from previous day’s $ 1.01 billion.