Philippine Peso Falls From 1-year High Against Dollar
October 08 2009 - 11:38PM
RTTF2
The Philippine peso that jumped to a 1-year high of 46.28
against the dollar at 6:45 pm ET Thursday weakened thereafter. The
peso thus dropped to 46.6950 per dollar by about 10:05 pm ET. The
next downside target level for the Philippine currency is seen at
46.735. The dollar-peso pair was worth 46.35 at yesterday's
close.
Looking ahead, Philippines will provide August numbers for
exports, with analysts expecting a decline of 20 percent on year
following the 25.4 percent annual contraction in July.
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