Peso stays at P47.52

The peso closed at the day’s low of P47.52, unchanged from the previous day. A total of $894 million changed hands, down from $906.6 million on Tuesday.

It opened strong at P47.35 and peaked at P47.23 after local market players gained confidence from Wall Street’s overnight rally.

However, when it steadied at P47.30, market players saw this as an opportunity to cover their short dollar positions.

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