A $1.102-billion dollar transaction Wednesday pushed the peso-dollar exchange rate to P42.89:$1, a centavo shy of the peso’s strongest level of P42.88:$1 on May 11, according to trading results at the Philippine Dealing System (PDS). The rate even hit an intra-day high of P42.83:$1."The fundamental factors that influenced the exchange rate are still positive for the peso… The balance of payments (BOP) remains in surplus, so you have more dollars coming in than more dollars going out," Bangko Sentral Gov. Amando Tetangco Jr. explained.
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