Peso rebounds anew; opens P51.17:$

The Philippine peso continued to regain lost ground Tuesday morning, trading at 51.17 against the greenback on the opening bell. Less than an hour into trading, the peso dropped to 51.25, or one centavo lower than its opening and closing rate last Monday. The local currency lost some of its gains last week after peaking at P50.93, its best value since July 2002. Dealers have been pleased with the peso's performance despite lingering political worries badgering the Arroyo administration.-GMANews.TV