Philippine c.bank intervenes to curb peso strength -traders
Published: 21 May 2009 19:04:48 PSTSINGAPORE, May 22 - The Philippine central bank intervened in the currency market on Friday by buying U.S. dollars to contain the peso's appreciation against a broadly weaker dollar, traders said.
"BSP is on the bid near 47," said a trader in Manila, referring to the central bank.
The peso <PHP=> gained 0.4 percent to 47.03 per dollar, its highest in nearly two weeks.
"The peso is following the dollar's downward move and as such it's appreciating today," said a second trader.
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