Article by:
Joann Villanueva
MANILA – The peso strengthened against the United States dollar on Monday, while the local stock market closed lower.
The local currency ended the session at 58.45, improving from 58.58 on Friday. It opened stronger at 58.50 from 58.75, trading between 58.38 and 58.55 and averaging 58.44.
Trading volume fell to USD1.08 billion from USD1.62 billion at the end of last week.
In a report, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the peso’s gains were supported by a month-on-month rise in gross international reserves, which reached USD112.5 billion as of end-January 2026, equivalent to 7.5 months of import cover and among the highest levels since 2023.
He said reserves above USD100 billion could strengthen the country’s external position, support credit ratings one to two notches above investment grade, and provide a buffer for the peso against the dollar.
Meanwhile, the Philippine Stock Exchange index (PSEi) fell 0.65 percent to 6,349.16, while the All Shares index dropped 0.64 percent to 3,561.47.
Most of the sectoral indices gained during the day, namely Mining and Oil, 4.71 percent; Holding Firms, 1.06 percent; Industrial, 0.35 percent; and Property, 0.19 percent.
On the other hand, Services fell 2.99 percent and Financials, 0.45 percent.
Total market volume reached 805.54 million shares worth PHP6.74 billion. Advancers edged decliners 100 to 95, with 69 issues unchanged. (PNA)
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