Thursday, June 28, 2007

Asia Currencies: Philippine Peso Heads for Fourth Quarterly Gain on Inflow

(Bloomberg) -- The Philippine peso headed for a
fourth quarterly gain on speculation workers abroad are sending
back more remittances and overseas funds are buying the nation's
stocks.

The peso is the second-best performer of 10 of the most-
traded Asian currencies this quarter as money sent home by
Filipinos employed overseas rises and the Philippine Stock
Exchange Index trades near a record high.


Read more at Bloomberg Currencies News

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