Peso touches 50:$1 level

The peso touched the slightly stronger 50:$1 level during Thursday’s trade and gained 22 centavos at the end of the trading day to close at 51:$1.

At the Philippine Dealing System, the peso reached an intraday high of 50.98:$1 and a low of 51.14:$1 after opening at 51.09:$1.

The total volume traded further increased to $1.137 billion from $949.1 billion last Wednesday.

On Monday, Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla Jr. said the peso is expected to regain stability in the near term on the back of solid macroeconomic fundamentals even as it dipped to nearly 11-year lows during the past two months.