THE PESO strengthened on Thursday after the central bank continued to keep borrowing costs steady to support economic recovery.
The peso opened Thursday’s session at P52.41 per dollar. Its weakest showing was at P52.43, while its intraday best was at P52.15 against the greenback.The peso appreciated after the central bank left benchmark rates at record lows, a trader said in a Viber message. “The Monetary Board sees scope to maintain the BSP’s policy settings in order to safeguard the momentum of economic recovery amid increased uncertainty, even as it continues to develop its plans for the gradual normali-zation of its extraordinary liquidity measures,” BSP Governor Benjamin E. Diokno said at a virtual briefing on Thursday.
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