Cost of services rose by 39 percent to 5.3 billion
pesos for the first half of 2019, up from 3.8 million
pesos in the prior corresponding period of the first six months of 2018.
'As of last year, there were three local government units that have institutionalized their
PESO, making a total of 10 towns now,' she said in an interview, referring to the towns of Tibiao, Libertad and Anini-y.
This is slightly stronger than the 53 trade average of the
peso in June 2018.
This reversed the
peso's 5.43-percent depreciation in 2018.
"With risk appetite likely to remain fragile due to fears of a global slowdown, traders may drive the
peso back below the 13-year low set in October," DBS said.
Last week, when the
peso breached P54, he said the market was still hoping for an aggressive response particularly if this will come as an off-cycle policy action, or a response before the scheduled September 27 Monetary Board policy meeting.
"The
peso has been on a downward path against the dirham this week," said one money exchanger in Dubai.
CASK in
pesos increased by 4.4%, year-on-year, while CASK in dollars increased 1.9%.