The peso rebounded against the dollar on Monday, March 26, as banks took profits ahead of the Holy Week break.

The local currency closed at P52.22 against the greenback yesterday, 17 centavos higher than the P52.39 finish on Friday.
The peso traded stronger the whole day, opening the session at P52.37-per-dollar, which was also its intraday low. Its best showing, meanwhile, was at P52.21 versus the greenback.
Dollars traded slipped slightly to $688.9 million from the $701.2 million traded on Friday.
A trader said in a phone interview that the banks reduced their long dollar position to take profit.
“Peso appreciated today as investors started to close their foreign exchange positions ahead of the Holy Week trading break towards the end of the month,” a trader said in an e-mail yesterday.
On Thursday and Friday, foreign exchange trading will be suspended due to the Holy Week holidays. — Karl Angelo N. Vidal

RELATED ARTICLESMORE FROM AUTHOR