PESO GAINS 17 CENTAVOS, TRADES AT P34.826/DOLLAR
Manila, Nov. 21, 1997 - Bucking a region-wide downtrend of currencies, the peso came out slightly stronger, averaging P34.826 to the dollar for a gain of 17.1 centavos.
Alan Guerrero, senior manager of Global Business Bank, said the demand for dollars was slack and many banks were long on dollars, so the peso remained steady.
Total volume turnover was down to $141 million yesterday, much smaller than the $245.5 million traded Wednesday.
Reported by: Sol Jose Vanzi
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