SINGAPORE--The Philippine central bank intervened in the currency market on Friday by buying US dollars to contain the peso's appreciation against a broadly weaker dollar, traders said.

"BSP is on the bid near P47," said a trader in Manila, referring to the central bank.

The peso gained 0.4 percent to P47.03 per dollar, its highest in nearly two weeks.

"The peso is following the dollar's downward move and as such it's appreciating today," said a second trader.