US Dollar Update, 10.06.2009By Randell Tiongson on October 6th, 2009
Central Bank intervenes to support USD
- · Peso strengthened further, hitting a fresh 9-month high of P46.71 to a dollar vs P47.10 the previous day.
· Attributed to strong inflows from overseas workers who sent home funds to families affected by Typhoon Ketsana
· Philippine central bank reportedly bought around $200 million at several levels, with bulk at 46.72 mark.