The central bank reiterated its stance of maintaining its presence in the foreign exchange market, after the peso slipped to P45 to the US dollar around midday of the first trading day of the week, from P44.88 on Friday.
The local currency showed weakness on Monday on the Philippine Dealing System (PDS), opening at P44.96 to $1 and hitting a low of P45 around midday. It regained some strength to between P44.89 and P45 before closing the day’s trade at P44.90.
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