PESO FIRM, AVERAGE RATE NOW P33.62/DOLLAR
Manila, Nov. 14, 1997 - The peso yesterday averaged at P33.62 per US dollar, amid cental bank observations that the Philippine currency has started to get de-linked from regional jitters.
Currency traders described the peso as "relatively stable compared to other currencies in the region."
Confidence in the peso has returned, said Bangko Sentral ng Pilipinas governor Gabriel Singson. "We have seen the worst. The players now are the local players since there are no more external players. Volatility is beginning to be more moderate."
Reported by: Sol Jose Vanzi
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