Peso ends sideways vs. USD

MANILA, June 4 (PNA) — Anticipation on the decision of the European Central Bank (ECB) after its policy meeting Thursday still hounded the Philippine peso and other currencies Wednesday.

The local unit ended sideways to a dollar at 43.87 from 43.81 a day ago, which a trader said is similar to other currencies not only in Asia but worldwide.

The trader said foreign selling in the local bourse also affected the local currency.

The Philippine Stock Exchange index (PSEi) shed 0.50 percent or 34.27 points and ended the day at 6,766.57 points.

For the currency, it started the day at 43.94, almost unchanged from the 43.92 Wednesday.

It traded between 43.95 and 43.85 resulting to an average of 43.89.

Volume of trade reached USD 639.3 million, which is lower compared to the USD 780.2 million a day ago.

For Thursday, the peso is expected to trade between 43.90 and 44.10. (PNA)