Peso closes at four-year high amid economic recovery
The Philippine peso strengthened on Monday, closing at P47.93 per dollar, marking its strongest performance since September 2016.
The currency appreciated by 11.5 centavos from its previous close of P48.045 on Thursday, driven by economic recovery efforts and the resumption of religious gatherings in areas under general community quarantine.
The Bureau of Treasury's three-year retail treasury bond offering also contributed to the peso's strength, generating an initial P22.218 billion during its rate-setting auction last week.
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