PHP slips as PSEi inches up

MANILA-- The Philippine peso closed sideways to settle at Php 50.18 to a United States dollar on Tuesday.

The local currency slightly shed Php 0.06 from last day's closing at Php 50.12 to a dollar.

It opened the day stronger at Php 50.14 from Monday's Php 50.16 opening rate.

The currency pair traded between Php 50.14 and Php 50.19, bringing the average level for the day at Php 50.16 to a U.S. dollar.

Volume of trade was slashed to USD287 million from the previous day's volume of USD505.8 million.

Meanwhile, the Philippine Stock Exchange index (PSEi) gained 1.43 percent, or 104.84 points, closing the local bourse at 7,446.49 points.

All shares also grew by 1.07 percent, or 47.14 points, to 4,460.56.

All sectors recorded growth ranging from 0.14 percent to 2.43 percent.

Financials grew 31.31 points to 1,865.93; Industrial, up 14.92 points to 10,964.57; Holding Firms, up 77.16 points to 7,527.50; Services, up 21.84 points to 1,585.01; Mining and Oil, up by 92.26 points to 12,143.28; and Property, up 76.44 points 3,225.07.

There were 114 advancers and 79 decliners, while 42 were left unchanged on Tuesday's trading.

Source: Philippines News Agency