Connect with us

Hi, what are you looking for?


Peso inches up vs dollar ahead of Fed meeting

THE PESO barely moved versus the dollar on Tuesday as investors waited for the US central bank’s latest policy decision. — BW FILE PHOTO

THE PESO ended almost flat against the greenback on Tuesday as the market waits for new signals from the US Federal Reserve’s policy meeting.

The local unit closed at P48.381 per dollar on Tuesday, inching up from its P48.39 close on Monday, data from the Bankers Association of the Philippines showed.

The peso opened Tuesday’s session at P48.37 per dollar, which was also its intraday best. Meanwhile, its weakest showing was at P48.435 against the greenback.

Dollars exchanged rose to $643.5 million from $514.68 million on Monday.

The peso was barely changed as investors await the policy decision of the Fed, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The Federal Open Market Committee will revisit its policy settings on April 27-28. Fed Chairman Jerome Powell last week said they remain fully committed to their mandate of maximum employment and stable prices while also recognizing inflation could be “a little higher” this year, Reuters reported.

Meanwhile, a trader said the peso inched up against the dollar following weaker-than-expected US retail sales data in March.

Data from the US Commerce department showed orders for non-defense capital goods excluding aircraft picked up by 0.9%, turning around from the 0.8% contraction in February, Reuters reported. However, it was lower than the 1.5% anticipated by economists in a Reuters poll.

For Wednesday, Mr. Ricafort gave a forecast range of P48.33 to P48.43 per dollar while the trader expects the local unit to move within the P48.30 to P48.50 levels. — LWTN with Reuters

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Your email address will not be published.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 Diego Gabriel C. Robles THE COUNTRY’S Socioeconomic Planning chief on Monday belittled the peso’s free fall against the dollar, saying there is nothing...


By Kyle Aristophere T. Atienza, Reporter SAN MIGUEL CORP. would proceed with building an international airport north of the Philippine capital even after a...


FELIPE M. MEDALLA / COURTESY OF BANGKO SENTRAL NG PILIPINAS PHILIPPINE CENTRAL BANK Governor Felipe M. Medalla would continue the “game-changing” reforms of the...


RAZON-LED Prime Infrastructure Capital, Inc. through its unit WawaJVCo, Inc. announced that it completed the Tayabasan weir, which is the first phase of its...


FRUITAS Holdings, Inc. plans to use part of its one-time gain from selling existing shares in subsidiary Balai ni Fruitas, Inc. to fund its...


LISTED construction company Megawide Construction Corp. announced on Monday that it secured its eighth contract with housing developer PHirst Park Homes, Inc. (PPHI). Under...

You May Also Like


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


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


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


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

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.