Peso attains terminal velocity but where is the volume?

The peso closed at 45.530 to the US dollar Thursday, with minimal volatility but at heavily reduced trading volumes.

The Philippine Dealing System (PDS), through which the banks buy and sell currency, saw the peso open on Thursday at 45 550, weaker than WednesdayÆs close of 45 500

On Wednesday, the peso sank to a record low of 45 840

From there, the peso weakened further to 45 560 by 10am with a trading volume of only $16 0 million Where were the players At this volume, they were waiting for the Bangko Sentral ng Pilipinas (BSP), which on Wednesday injected about $80 million into the system The BSP credited its intervention as the main driver for the pesoÆs reverse price action after...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222