December 4, 2007
Stronger peso holds at P42 to $1
Not something that our overseas workers would give a clap to this holiday season, but definitely good news for our economy - 
The peso opened at 42.350 to $1 at the beginning of Tuesday’s trade and went steadily up to its closing rate of 42.120 to the dollar which was also the intra-day high. Tuesday’s close was 18.50 centavos higher than Monday’s close of 42.305 to $1.
Both public and private sectors took advantage of the lower exchange and prepaid up to 2.55 billion worth of foreign obligations since it had become cheaper to do so.
[source and image: ABS-CBN]
Tags: foreign exchange, peso, dollar, banko central, economy
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