The Philippine peso strengthened on Tuesday, the last day for the month, after finishing the day at P44.60 against the US dollar.
It gained by 10 centavos this day from Monday’s closing of P44.80.
A local bank’s trader said the strong peso on Tuesday follows the improvement of majority of Asian currencies and the P41.08-point increase of the local bourse.
“Risk sentiment was fuelled by gains in China and our stock exchange with foreign investors coming in,” the trader added.
The peso opened the day better at P44.76 from Monday’s P44.79-level.
It traded between P44.70 and P44.76 bringing the average level for the day at P44.73 versus a dollar.
Total volume of trade also went up to US$ 501.4 million on Tuesday from US$ 340.6 million Monday.
The trader mentioned that peso and dollar are expected to trade between P44.60 and P44.80 on Wednesday, the last day of trading for this week.