SINGAPORE -- The Philippine peso recovered from its weakest levels in nearly a year after the central bank sold dollars on the market on Friday to defend the currency near the 46.90-per-dollar level, traders said.
"They (the central bank) were in earlier at 46.90, but not aggressive," said a trader in Manila.
A second trader also said the central bank was selling dollars in an effort to support the peso, which fell as low as 46.94, its weakest level in nearly a year.
By 0305 GMT, the peso was around 46.80 per dollar.
