Thursday, November 29, 2012

US Dollar vs Peso Currency Exchange Rate

By Joann Santiago

The local bourse reversed its performance in the morning and capped this week with another record-high tracking counterparts overseas while the peso closed at the same level as Thursday.

The composite index registered another record-level at 5,640.45 points, up by 0.12 percent or 6.73 points from Thursday's 5,633.72 points, which is the previous record.

Traders said the improvement of the main index was traced to the reports quoting House Speaker John Boehner on a possible compromise that will prevent from "fiscal cliff" from materializing.

Also, reports said US President Barack Obama is hopeful that a deal on the world largest economy's fiscal situation will be addressed in the next four weeks.

On the other hand, the broader all shares index is down by 0.07 percent or 2.47 points lower at 3,639.42 points from Wednesday's 3,641.89 points.

Half of the sectoral indices namely the property, holding firms and services tracked the main index while the financials, industrial, and mining and oil ended the week on the week.

Value turn-over reached P11.02 billion after 3.74 billion shares changed hands.

Losers edged gainers at 103 to 65 while 39 stocks were unchanged.

Similarly, the peso closed at the same level as Thursday's at 41.90 against the dollar.

It started the day at 40.85, better than day-agos's 40.90.

It's opening level is the local unit's strongest trade for the day while weakest stood at 40.93 resulting to an average of 40.88.

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