GMA News
Peso rebounds ahead of inflation data release
The Philippine peso is anticipated to strengthen this week, buoyed by the upcoming releases of local inflation and trade data.
On Monday, the local currency gained 7.5 centavos to close at P48.405:$1, rebounding from its P48.48 finish on Friday.
September inflation data and August manufacturing data are scheduled for release on Tuesday, October 6, followed by August trade data on Friday, October 9.
The peso's appreciation is also attributed to the decline in global oil prices, which could reduce the country's oil import bill and the demand for US dollars.
Market sentiment has improved amid optimism for a bipartisan deal on the US stimulus bill, and reports that US President Donald Trump could be discharged soon from the hospital after testing positive for COVID-19.
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