The peso closed at its strongest level in two weeks against the greenback on Tuesday, returning to P46 to $1 territory as investors gained confidence following the Philippines’ generally successful and peaceful national and local elections.
The currency gained 34 centavos to close at P46.75 to $1 from its P47.09 finish on Friday last week. It was the local currency’s strongest finish in two weeks since closing at P46.65 to $1 on April 26.
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