Peso rises as more vaccine doses arrive in the country 

THE PESO strengthened versus the dollar on Thursday after the arrival of more vaccine doses in the country.  

The local unit closed at P49.825 per dollar yesterday, appreciating by 24.5 centavos from its P50.07 finish on Wednesday, data from the Bankers Association of the Philippines showed. 

The peso opened Thursday’s session at P50.04 per dollar. Its weakest showing was at P50.13, while its intraday best was at its close of P49.825 versus the greenback. 

Dollars exchanged rose to $1.146 billion on Thursday from $1.054 billion on Wednesday. 

The peso climbed as the arrival of more coronavirus vaccines fueled hopes for the gradual reopening of the economy, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said. 

More than 700,000 vaccine doses from Pfizer, Inc. arrived on Wednesday evening. Some 15,000 doses of Sputnik V were also delivered on Tuesday. 

Meanwhile, a trader said the peso rose on preference for the local unit following the weak US private jobs report. 

The ADP National Employment reported showed private payrolls rose 374,000 in August, higher than the 326,000 in July, Reuters reported on Wednesday.  

For Friday, Mr. Ricafort gave a forecast range of P49.70 to P49.95, while the trader expects the peso to move at P49.70 to P50 versus the greenback. — LWTN with Reuters 

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