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Bacolod City, PhilippinesSaturday, March 9, 2013
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Peso improves to 40.60

The peso improved slightly against the dollar yesterday after investors took a risk-on behavior following the improvement in the equities market.

Thus, the peso finished the week at 40.68, better than the previous day's 40.73 close.

This after regional equities registered positive performance during the day with the Philippine Stock Exchange index expanding by 1.62 percent or 108.64 points to 6,833.77 points, a tad lower than the all time high of 6,835.21 on March 6.

The local currency opened almost unchanged at 40.72 from day-ago's 40.74.

It traded between its closing rate and 40.73 bringing the average in 40.71.

Volume of trade declined to $636.1 million over the previous day's $762.9 million.

The trader said regional currencies improved amid expectations that non-farm payrolls in the US, which the government was scheduled to report yesterday, will improve from the 157,000 last January as labor market in the world's largest economy continue to register better figures.

Next week, the peso is expected to trade between 40.65 and 40.75.*PNA


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