Peso closes stronger at P46.41

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The peso advanced against the greenback on Friday after the United States Federal Reserve decided to keep its policy interest rates near zero.

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The Philippine currency gained 3 centavos to finish at P46.41 to $1 from P46.44 on Thursday.

At the conclusion of the two-day meeting of the Federal Open Market Committee (FOMC), the Fed decided to keep the funds rate on hold and said its 0-0.25 percent target remains appropriate.

The peso opened at P46.49 to $1 on the Philippine Dealing System (PDS) on Friday, before trading between P46.40 and P46.57.

Total volume transacted on the PDS rose to $617.5 million from $491.4 million in previous trade.

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