The peso and the Indian rupee rose against a weakening dollar on Tuesday in thin, year-end trading, with other emerging Asian currencies expected to strengthen on gains by China's yuan, analysts and dealers said. The Philippine peso rose 0.3 percent on high inflows from remittances in relatively thin trading. Traders said a bulk of these remittances had been sent over the four-day Christmas weekend.
"I think we're seeing the inflows finally overpowering the market the past few days," said a Manila-based dealer. Another dealer said: "43.80 would be the next crucial level. Unless the level breaks, it looks like we'll just trade between 43.80-44.20 to close the year."
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