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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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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