Peso strengthens on vaccine optimism
The Philippine peso strengthened on Tuesday due to positive market sentiment regarding potential vaccines for COVID-19.
The peso closed at P50.70 per dollar, up 20 centavos from Monday's close of P50.90.
Rizal Commercial Banking Corp.'s Chief Economist Michael L. Ricafort attributed the peso’s gain to improved global risk appetite following promising early-stage trials for a potential vaccine by Moderna Inc.
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