The peso depreciated against the US dollar and returned at the P55 level on Wednesday ahead of the government’s release of the July inflation data.
Data from the Bankers Association of the Philippines showed that the peso closed weaker at P55.19 and lost 42 centavos from P54.77 the previous session.
The local unit opened Monday’s session at P54.84 per dollar.
Its weakest showing of the day was at P55.20, while its intraday best was at P54.84 against the greenback.
The Peso’s weighted average rate on Wednesday was at P54.987 while the peso-US dollar volume increased to $1.10 billion versus $972 million previously.