Philippine Peso Hits Near 4-Month High
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The Philippine peso has strengthened to nearly 58 per dollar, marking its highest level since October, following a period of record lows in January. This rise is attributed to renewed capital inflows and a rally in local equities, with foreign investors purchasing approximately $266 million in Philippine stocks this year. The PSE Index has increased by about 8% year-to-date. The peso's gains are also supported by expectations that the central bank is nearing the end of its easing cycle, as consumer inflation reached the 2% target in January.
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