The peso briefly touched P49 to the US dollar on Wednesday, a development attributed to a stronger economy and remittance inflows.
The currency hit an intra-day high of P49.96:$1 — after opening at P50.03:$1 — at the Philippine Dealing System and closed the day at P50.04:$1 — the strongest in six months or since June 19’s P49.91:$1.
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