THE PESO appreciated against the dollar on Thursday after the Bangko Sentral ng Pilipinas (BSP) kept benchmark borrowing costs unchanged but signaled it would need to keep rates higher for longer to keep inflation expectations anchored.
The local unit closed at a fresh three-month high of P55.79 per dollar on Thursday, strengthening by 3.5 centavos from its P55.825 finish on Wednesday, based on Bankers Association of the Philippines data.
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