MANILA, Philippines – The peso closed at a four-and-a-half year high yesterday, following other Asian currencies which appreciated on the back of good news from the US.
The local currency ended trading at 41.33 to a dollar, 12.5 centavos stronger than Monday’s close of 41.455 to $1. Dollars traded reached $1.021 billion, up from $687.950 million the previous day.
“The good retail sales in the US possibly caused the peso’s strength. Actually, most currencies and equities in the region performed well today,” a trader at a local bank said in a phone interview.
The US Commerce Department on late Monday reported that retail sales rose 1.1 percent in September, the fastest rise since October 2010. The good news heightened investor appetite for risky assets, including those from the Philippines.
“The risk-on tone is very well placed now and basically the appreciation of the peso is in line with regional developments, which makes the peso still competitive,” another bank trader said.
He noted that from Aug. to Oct. 16, “the Thai baht has appreciated more than the peso.” He however did not cite data. Data from the Philippine Dealing and Exchange Corp. however showed that since the last trading day of 2011, the peso has firmed up by 5.72 percent till yesterday.
“Thus, it (the rise of the peso) should not be a cause of concern,” he added. –Prinz P. Magtulis (The Philippine Star)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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