MANILA, Philippines — The Philippine peso rebounded against the US dollar on Friday after hitting a record low during early trading, closing at P62.985 from P63.06 on Thursday.
The local currency recovered 7.5 centavos from the previous session’s close after weakening to an intraday high of P63.23. It opened at P63.03 and touched a low of P62.97 during the session.
Despite the late-session recovery, the peso’s weighted average exchange rate rose to P63.068 from P63.049 on Thursday.
