Peso returns to P52:$1 after 2 months
The peso appears to have bounced back as it gained strength against the US dollar.
The local currency ended trading on Monday, Aug. 6, 2018 at P52.85 versus the dollar, strong er than the P53.15 rate seen last Friday.
The peso was stronger for the entire session as it opened at P53.10 to a dollar, and touched P52.84 as an intraday low.
The stronger peso came ahead of important economic data in the Philippines, including July inflation, trade and manufacturing, second quarter growth statistics, and the monetary policy decision from the central bank.