Peso recovers further
The peso firmed up further on Monday after flirting with the psychologically important P50:$1 level last week.
At the Philippine Dealing System (PDS), the local currency ended the trading session at P49.71 to the dollar, stronger than the P49.84 recorded on Friday.
The peso opened at P49.80 and weakened slightly to P49.83 before rising in the afternoon session to close at its strongest level for the day.
A total of $466.7 million we converted on the PDS, slightly less than last Friday’s $538.2 million.