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Byline: Leilani M. Gallardo
The peso was almost rooted to the same level against the dollar in yesterday's trade as banks were just content to service the dollar requirements of their corporate clients.
At the Philippine Dealing System, the country's electronic currencies exchange, the peso averaged P51.305 against the dollar, a centavo lower than P51.289 the previous day. The local unit, however, closed at P51.28 up by two centavos from P51.305 on Tuesday.
During intraday trade, the peso hovered within a range of P51.27 to P51.34 against the dollar while total volume of transactions at the spot market was unchanged at $106.5 million.