Philippine Peso Continues to Shine

The Philippine peso remained one of the fastest appreciating Asian currencies in the first two months of 2013 on the back of a surge in foreign “hot money.”

Closing at 40.66 against the US dollar on Feb. 28, the peso had strengthened by nearly 1 percent since the start of the year.

Data provided by the Bangko Sentral ng Pilipinas (BSP) to the Inquirer showed that the peso rose by 0.96 percent during the period, the second-fastest rate of appreciation among selected actively traded Asian currencies.

SOURCE: http://business.inquirer.net/110619/peso-still-among-strongest-in-asia-2
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