Read this in The Manila Times digital edition. THE peso lost 3 centavos on Wednesday to close at P56.2 to the dollar against Tuesday's P55.9. Volume reached $882.85 million, higher than the $813.27 million in the previous session. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the peso was weaker "after the long Christmas holiday weekend and after the likely peak/culmination and eventually tail-end of the holiday-related spending." However, he noted that "there may still be another round of increased holiday-related spending, though by a lesser extent, in preparation for the upcoming long New Year holiday weekend."

Source: Manila Times December 29, 2022 04:28 UTC