Peso Nears P63/$ Amid Strong Dollar
The Philippine peso is nearing the P63 to $1 mark, pressured by a resurgent US dollar. Rising US Treasury yields are driving dollar bulls, weakening the local currency. While it briefly touched P62.90, the peso closed slightly stronger at P62.835, up 2.5 centavos from the previous day.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- Customs Eyes Streamlined Export Procedures to Aid Filipino Businesses
The Bureau of Customs (BOC) is working to simplify export procedures, aiming to help Filipino businesses overcome regulatory and customs hurdles in accessing international markets. Discussions on free trade agreements and government support programs were held during a recent Export Summit.
- Philippines' Tax Transparency Push: Bank Secrecy Law Remains a Hurdle
The Philippines is advancing its participation in international tax transparency standards, but its strict domestic bank secrecy law hinders full implementation of information exchange. As the only ASEAN nation with such a law, the country faces risks of missing out on increased tax revenue, improved information access, and enhanced investor confidence.
- NFA: One-ton bag use cuts palay handling time from 1 hour to just 15 minutes
The National Food Authority (NFA) announced that its pilot test of one-ton flexible bags has reduced the handling time for palay (unhusked rice) from one hour to just 15 minutes. This also led to a 50% cut in handling costs and improved warehouse space utilization.
- JV, Lacson: Budget ‘bicam’ open to all, sparing none
Senators JV Ejercito and Panfilo Lacson vowed that no one, including President Marcos' son, would be spared from scrutiny during the bicameral conference committee deliberations on the P7.2-trillion national budget, citing allegations of questionable insertions and emphasizing transparency.