Peso Back at PhP50:$1 on Policy Easing

The peso recorded its strongest level yet against the US dollar this year as the expected easing of the Bangko Sentral ng Pilipinas’ (BSP) monetary policy and other positive indicators helped the local currency return to P50:$1 on Tuesday.

The currency, which opened at PhP51 against the greenback, gained 10 centavos to close at PhP50.90, its strongest in nearly 18 months or since its PhP50.84:$1 finish on Jan. 26, 2018.

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