The Philippine peso was flat versus the dollar as the growth of domestic liquidity and bank lending eased in September. The Bankers Association of the Philippines reported that the peso closed at P48.27 versus the dollar on Wednesday, unchanged from its Tuesday finish.
The peso showed its weakest showing at P48.35 versus the dollar on Wednesday. Its intraday best was logged at P48.25 per dollar. Dollars traded declined to $507.9 million on Wednesday from $710.6 million the previous day.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the peso closed flat versus the dollar after the release of central bank data showing slower growth in domestic liquidity and bank lending in September.