Connect with us

Hi, what are you looking for?


Peso rebounds on wider trade deficit in Dec.

THE PESO appreciated against the greenback on Wednesday on the back of data showing a wider December trade deficit.

The local unit finished trading at P48.075 per dollar yesterday, gaining 0.5 centavo from its P48.08 close on Tuesday, data from the Bankers Association of the Philippines showed.

The peso opened the session at P48.06 versus the dollar. Its weakest level was at P48.095 while its intraday best was at P48.055 against the greenback.

Dollars traded increased to $1.123 billion on Wednesday from the $1.014 billion seen on Tuesday.

The peso was supported by the wider trade deficit in December, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The country’s trade deficit stood at $2.18 billion in December, wider than the $1.73 billion logged in November but narrower than the $2.96-billion gap a year ago.

Meanwhile, a trader said hopes of continued dovish guidance from the US Federal Reserve also provided support to the peso.

Investors are waiting for comments from Fed Chairman Jerome J. Powell as they conclude a two-day policy meeting on Wednesday, with expectations leaning towards continued accommodative monetary policy.

“The local currency might weaken from the release of likely weaker fourth-quarter GDP (gross domestic product) reports,” the trader said.

For Thursday, Mr. Ricafort gave a forecast range of P48.05 to P48.10 per dollar while the trader expects the peso to move within the P48 to P48.10 level. — LWTN

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



By Luisa Maria Jacinta C. Jocson, Reporter FACTORY ACTIVITY in the Philippines expanded for a tenth month in a row in November, although jobs...


Passengers wait inside the Ninoy Aquino International Airport Terminal 3 in Pasay City, Oct. 29. The growth in remittances is expected to slow next...


By Revin Mikhael D. Ochave, Reporter THE JOINT Foreign Chambers of the Philippines (JFC) is now targeting to generate $128 billion in foreign direct...


LOCAL GOVERNMENT units (LGUs) should be given more time for the smooth transition of devolved functions from the National Government (NG) agencies, according to...


IN separate advisories, the Securities and Exchange Commission (SEC) has warned the public not to invest in CashBaka, Hero Mining International Group, and


D.M. CONSUNJI, Inc.’s (DMCI) order book declined by 8.1% to P45.3 billion for the past three quarters from P49.3 billion in the same period...

You May Also Like


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.