
Philippine Peso Recovers to P63.85/$1 After Presidential Reassurance
The Philippine peso strengthened to P63.85 against the US dollar on Thursday, recovering from a two-day period above P64, following President Ferdinand Marcos Jr.'s assurance that the government is actively working to defend the local currency.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- PH Assured of Coal Supply Despite Indonesia's Gas Export Cuts
The Philippine government remains confident in its coal supply deal with Indonesia, despite Jakarta's decision to cut gas exports to Singapore. The Department of Energy secretary assured that both nations will honor their existing coal contracts.
- PSEi Rebounds to 5,705 on Bargain Hunting
The Philippine Stock Exchange Index (PSEi) rebounded on Thursday, driven by bargain hunting after a previous day's decline. Gains on Wall Street also bolstered sentiment, pushing the benchmark index up 0.92 percent to close at 5,705.58 points. Investors cautiously bought back shares amid lingering inflation fears.
- Philippine Markets Rally on Fed Rate Pause, Peso Recovers
Philippine financial markets experienced a relief rally following the US Federal Reserve's decision to hold interest rates steady. The PSEi climbed, and the peso strengthened against the dollar. However, domestic inflation concerns continue to pose risks to the market outlook.
- Peso Rebounds, But External Pressures Remain Unresolved
The Philippine peso rebounded to P64.025 per US dollar on Wednesday following President Marcos's signal of support for the currency. However, underlying pressures such as inflation and increased import costs remain, leaving external pressures unresolved.