0834 GMT [Dow Jones] USD/PHP is flat late Friday on few fresh cues. The USD/PHP closed at 43.67 after settling late Thursday at 43.665. There is a steady inflow of USD but banks are reluctant to unload at lower rates--especially ahead of the weekend, a local bank trader says. "Nobody wants to be caught unloading their dollars at the low then something happens when the market is closed," the trader says. Volume is thin. Traders expect USD/PHP between 43.50 and 44.00 in the near-term. (cris.larano@dowjones.com)
(END) Dow Jones Newswires
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May 23, 2014 04:34 ET (08:34 GMT)
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