Philippines’ dollar reserves hit new record

The Philippines’ dollar reserves reached a new all-time high as of end-2020, the central bank said on Friday. GROSS international reserves (GIR) — which shield the country from liquidity shocks — stood at $109.8 billion as of end-December, up 4.8% from $104.8-billion level as of end-November and 25% higher than the $87.839 billion a year earlier. “This buffer is equivalent…

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Shares rebound as gov’t clears Pfizer vaccine use

By Revin Mikhael D. Ochave, Reporter PHILIPPINE shares ended higher on Thursday, ending its two-day skid, on the government’s approval of Pfizer, Inc.’s coronavirus disease 2019 (COVID-19) vaccine for emergency use. The Philippine Stock Exchange index (PSEi) rose 30.3 points or 0.41% to close at 7,273.15, while the all shares index climbed 16.01 points or 0.36% to end at 4,350.94.…

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PSEi ends three-day climb as mart turns cautious

PHILIPPINE SHARES closed in negative territory on Tuesday, ending its three-day rally, as investors opted to pocket gains following a global debt watcher’s comments on the country’s growth prospects. The benchmark Philippine Stock Exchange index (PSEi) dropped 46.68 points or 0.63% to close at 7,258.11, while the broader all shares index fell 35.57 points or 0.81% to end at 4,337.76.…

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Stocks rise on proposed changes to Constitution

By Revin Mikhael D. Ochave, Reporter STOCKS ended in positive territory on Monday as the market welcomed a proposal to amend economic provisions of the 1987 Philippine Constitution to attract more foreign investments into the country. The bellwether Philippine Stock Exchange index (PSEi) improved 14.91 points or 0.2% to close at 7,304.79 yesterday, while the broader all shares index rose…

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Peso to climb versus dollar on stimulus hopes

THE PESO is expected to bounce back versus the dollar this week as the market anticipates the leadership change in the United States and on developments regarding coronavirus vaccines. The local unit finished trading at P48.088 versus the dollar on Friday, shedding 1.8 centavos from its P48.07 close on Thursday, data from the Bankers Association of the Philippines showed. It…

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