PESO UP, GAINS 13.1 CENTAVOS
Manila, Nov. 4, 1997 - The Philippine peso improved yesterday, gaining 13.1 centavos for a weighted average of P35.144, an improvement over Friday's average of P35.275.
Tight domestic liquidity contributed to the peso's appreciation against the dollar. Another factor was the positive effect on the rest of the region of the $33-billion assistance from the IMF for Indonesia.
The volume of transactions at the Philippine Dealing System dropped from $108.2 million last Friday to only $75.35 million.
Reported by: Sol Jose Vanzi
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