Peso continues surge, closes at 45 to $1

The Philippine peso touched the 44 to one US dollar level on Thursday before finishing at 45 against the greenback. Currency traders in Manila said the strength was due to offshore interest in the local stock market. The peso's close on Thursday is a new near seven year high. It last closed higher last Aug. 24, 2000, when the local currency ended the day at 44.98 to a dollar. The local currency touched a high of 44.99 against the dollar, and a low of 45.22. Volume traded reached $637.50 million. On Wednesday, the peso closed at 45.28 to a dollar. - GMANews.TV