Peso strengthens on GCQ optimism

On Monday, June 1, the Philippine peso appreciated against the US dollar, closing at P50.32:$1 from Friday's close of P50.61:$1.

The appreciation was driven by optimism over Metro Manila and other areas shifting to a general community quarantine (GCQ) starting June 1, allowing more businesses to reopen.

According to foreign exchange traders, the GCQ is expected to boost economic activity, making the peso more attractive.

On Friday, May 29, the peso also strengthened by eight centavos to P50.61:$1 from Thursday's close of P50.69:$1 due to anticipated improvements in business and investment valuations following the easing of lockdown measures.