The peso regained some ground in Monday’s trade in a technical rebound from a two-month low, though it remained still generally weighed down by the dollar’s overall strength.
“Overall, the peso could be feeling the impact of a stronger dollar, plus possibly some month- and quarter-end requirements by corporates that need to be filled,” Justino Calaycay Jr., analyst at Accord Capital Equities Corp., said.
The local currency closed at P44.79 to the dollar at the start of the trading week, gaining 2 centavos from Friday’s finish at P44.81.
Friday’s close was the local currency’s weakest level since the P44.87 recorded on January 12.
Total volume transacted on the PDS fell to $542.100 million from $655.200 million previously.