Tuesday, May 15, 2007

Asian Currencies: Peso Rises on Overseas Remittances, Korean Won Retreats

(Bloomberg) -- The Philippine peso climbed to the highest since October 2000 as remittances from Filipinos working overseas increased.

The peso advanced 4.2 percent this year as funds sent home rose 26.4 percent in March from a year ago to $1.3 billion, exceeding $1 billion for an 11th month, according to central bank data. Filipinos yesterday voted in mid-term elections.


Read more at Bloomberg Currencies News

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