BALIK ang Philippine peso sa P50:$1 level kahapon nang ma-offset ng corporate inflows ang foreign selling sa local equities market.
Ang local currency ay lumakas ng 4 centavos upang magsara sa P50.96:$1 mula sa P51:$1 noong Biyernes.
Ayon kay ING Bank Manila senior economist Nicholas Mapa, bagama’t bahagyang nakabawi ang piso kontra dolyar, ang kabuuang larawan ay nananatiling makulimlim dahil sa pagkalat ng coronavirus disease 2019 (COVID-19).
“Trading volume was relatively light today, even for a shortened trading session so we won’t put too much into the Peso’s slight appreciation for the session as the overall mood remains subdued due to the ongoing virus outbreak,” ani Mapa.
“Weakening pressure was noted as foreigners continued to sell in the PSE which was offset by corporate inflows,” dagdag pa niya.
Sa datos ng Philippine Stock Exchange (PSE), ang foreign funds ay bumili ng P2.381 billion na shares sa session noong Lunes at ibinenta ang P3.268 billion para sa net selling position na P887.396 million.
Kasabay nito ay ibinabala ni Mapa ang pagbagsak ng ekonomiya dahil sa COVID-19 pandemic.
“Once we’re done battling Covid-19, we will be in a long drawn out fight with the economic fallout from the virus. As the Governor of BSP noted, the impact will be drawn out and deep so sentiment may be subdued for some time,” aniya.
