PHL Peso Ends Week Flat vs US Dollar

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MAKATI CITY — The Philippine peso closed the week flat against the greenback as investors await the release of US’ non-farm payrolls report later in the day.
It finished the trade at 46.93, which a trader said was expected.
“Markets are on the lookout for the payrolls report since this would be a major consideration on the Federal Reserve rates when FOMC (Federal Open Market Committee) meets in December,” a trader said.
For the day, the local unit opened at 46.90, sideways from the previous day’s 46.86.
It traded between 46.94 and 46.87 resulting to an average of 46.90.
Volume of trade reached US$590.8 million, a slight decline from the US$594.4 million Thursday, November 5.
The peso is projected to trade between 46.70 and 47.00 to a dollar next week.

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