PESO STRONGER, CLOSES AT P40.18/$1
Manila, Feb. 28, 1998 - The peso ended stronger Thursday as dollar buyers hedged while waiting for better prices.
Stronger currencies in neighboring countries also helped the Philippine currency, which closed at P40.18 to the dollar from P40.38 the day before.
Volume was thin due to lack of dollar traders, $87.2 million changed hands versus $116.88 last Wednesday.
Dealers anticipate the peso to even be stronger in the coming days due to the stability being shown by regional currencies.
Reported by: Sol Jose Vanzi
© Copyright, 1998
All rights reserved