Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Philippine Peso Rises for a Second Day on Stock Market Inflows

The Philippine peso rose for a second day on signs economic growth is drawing overseas investors to the nation’s shares.

International funds bought $160 million more equities than they sold this month through yesterday, according to stock exchange data, helping drive a 3.3 percent gain in the benchmark index. Philippine gross domestic product increased 6.4 percent in the first quarter, the most among Southeast Asia’s five biggest economies, as President Benigno Aquino boosted state spending.

“The flows are positive,” said Lito Mercado, head of trading at Rizal Commercial Banking Corp. in Manila. “We are hearing more and more funds say the Philippines looks good. They’re still OK to put money here via investments through the stock market and bonds.”

The peso advanced 0.2 percent to 42.37 per dollar in Manila, according to Tullett Prebon Plc. The currency reached 42.305 today, the strongest level since June 21. It strengthened 1.3 percent this quarter, the most among Asia’s 10 most-active currencies excluding the yen.

One-month implied volatility for the peso, a measure of exchange-rate swings used to price options, was unchanged at 6.3 percent, less than 7.75 percent at the end of last month

The Philippine Stock Exchange Composite Index climbed 0.9 percent, a fourth day of gains.

The yield on the government’s 5.875 percent bonds due March 2032 was unchanged at 5.94 percent, according to prices from Tradition Financial Services.

Central bank Governor Amando Tetangco said in a mobile-phone message today that inflation remains manageable and may be at 2.5 percent to 3.4 percent this month as increases in utility costs and higher prices of some vegetables are offset by lower oil prices. Consumer-price increases slowed to 2.9 percent in May from a year earlier. The government is due to report the data on July 5.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.