Philippine currency the Philippine peso rose .2 per cent against the U.S. dollar from Dec. 29 to closing on the 30th of December. The peso ended at 43.76 to the U.S. dollar.
During the holidays remittances from Filipinos working overseas increase and this is probably what has caused the rise in the peso. The central bank is considering an interest rate cut as as global growth slows and will also slow growth in exports.
The Treasury Bureau is auctioning off 206 million(U.S.) in 5 per cent bonds that will mature in August 1918. The government is intending to sell further securities in the first quarter of this year. Yield on 7.375 per cent bonds has increased over the last few days of trading in the year. For more see this article.
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