P/$ rate averaged P45.94 in Q3
Manila Bulletin - December 26, 2007
The peso-dollar exchange rate averaged P45.94: $1 in the third quarter of 2007, appreciating by 11.9 percent from P51.39: $1 level in the same quarter in 2006, the Bangko Sentral ng Pilipinas (BSP) said in its latest balance of payments report. On a cumulative basis, the peso which averaged P47.16: $1 in the first three quarters of the year was stronger by 9.9 percent from the P51.83: $1 in the comparable period in 2006 due mainly to sustained dollar inflows from overseas Filipinos’ remittances and foreign investments. BSP said during the period, the peso was relatively steadier compared to the same period last year as it fluctuated within a narrower band. The peso-dollar exchange rate ranged from P49.16: $1 to P44.79: $1 during the first nine months of the year. (LCC)
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