MANILA – The Philippine peso touched the 43-level yesterday and closed weaker against the US dollar as investors anticipate further cut in central bank’s policy rates this week.

The local unit shed P0.13 to P42.97 from last Friday’s P42.84 close.

Analysts have projected a weaker peso this week and this has materialized in the start of this week’s trading when the local currency opened at P42.85, P0.16 less than it’s P42.69 opening level last Friday.

Guv to launch P1.95-M
poultry project in Sagay

Gov. Alfredo Marañon Jr. will launch and turn over the P1.95 million “Backyard Broiler Contract Growing Project in Negros Occidental” tomorrow to 12 families in Sagay City, who are also recipients of the Gawad Kalinga housing projects.

Anna Leah Silva, project development officer of Technology and Livelihood Development Center, said each family will receive 200 to 208 heads of broiler chicks that will help them in their livelihood and livestock production.

The project will also address economic development, food security of the province, and enhance their capability building, she said.

‘Basic goods’ prices stable’

Prices of agricultural products normally fluctuate but increase of prices on all basic and prime commodities are less likely to happen in the next few days, Ernie Pineda, Bacolod City Market Coordinating and Monitoring Task Force head, said yesterday.

Pineda, however said, prices of some brands of canned goods, milk, and coffee products have increased from P0.75 to P5 since December last year. Some of the products have increased twice since December, he added.

They have forwarded the report to the Department of Trade and Industry so that they can evaluate the price increases as well, Pineda said.

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