Peso strengthens to P50 per dollar
The Philippine peso strengthened to P50 per dollar on Thursday, marking its strongest close since January 2018.
Positive market sentiment amid easing global lockdown measures contributed to the peso's appreciation.
On Monday, the peso rallied to P50.32 per dollar, driven by S&P Global Ratings' affirmation of the country’s credit rating and improvements in the manufacturing sector.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort attributed the peso's gains to positive global stock market performance and economic recovery signs.
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
Topics in this story
Explore more stories about these topics