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Peso steady versus dollar.
(From BusinessWorld (Philippines))
Byline: Ma. Eloisa I. Calderon
The peso yesterday closed unchanged from Friday's P49.82 per dollar, which revived strength amid trickling demand typical during end of the month.
It opened stronger by ten centavos at P49.75, but traded at a tight range of P49.73 to P49.87.
Most banks bet on the dollar during late-morning trade, mainly to fund importers meeting their dollar requirements at month's end, dealers said.
"There was some corporate demand late this morning. Some banks were covering their short position. But when the peso reached P49.87, banks trimmed their position so we went back to …
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Magazine article from: BusinessWorld (Philippines)
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