MANILA – The Philippine peso ended the week almost flat against the US dollar while the Philippine Stock Exchange index (PSEi) finished on the red.
The local unit ended the trade at 51.90 from 51.92 a day ago, which a trader said was expected given the recent drop in US Treasury yields.
It opened the day at 51.84, an improvement from the 52.07 a day ago.
It traded between 51.78 and 51.92, resulting in an average of 51.56.
Volume for the day reached USD733.3 million, down from the USD863.5 million a day ago.
The currency pair is seen to range between 51.80 and 52.10 next week.
PSEi, on the other hand, shed 0.09 percent, or 7.20 points, to 8,458.57 points.
A trader said concerns on the domestic inflation rate’s path continue to worry investors amid assurance by monetary officials that rate of price increases is expected to normalize starting in the first quarter of 2019.
The continued drop in the country’s main equities index was mirrored by the All Shares, with fell 0.24 percent, or 12.29 points, to 5,065.34 points.
Most of the sectoral indices also ended the week down, led by the Mining and Oil, 1.04 percent; and followed by the Holding Firms, 0.73 percent; Property, 0.51 percent; and Services, 0.14 percent.
Volume reached 4.9 billion shares amounting to PHP7.25 billion.
Losers led gainers at 141 to 74 while 41 shares were unchanged. (PNA)
