MANILA – The Philippine peso still ended sideways to a greenback Thursday after Greece officials agreed the creditor-demanded austerity measures.
It ended the day at 45.25 from 45.21 a day ago.
This, after the Greece parliament adopted reforms that include large pension cuts, hikes in value added taxes, and adjustments in the collective bargaining system.
This will allow Greece to get its third bailout package amounting up to 86 billion euro.
A trader said investors remained at the sidelines pending the final approval of the bailout program and the approval by European government of the loan.
The peso’s closing level is also its opening level, which is a tad weaker than the 45.19 a day ago.
It traded between a close range of 45.28 and 45.24 bringing the day’s average to 45.26.
Volume of trade reached USD 549.6 million, lower than day-ago’s USD 629.2 million.
Next week, the currency pair is seen to trade between 45.20 and 45.40. pna