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Peso rebounds as inflation falls in line with BSP outlook
By JON VIKTOR D. CABUENAS,GMA News The Philippine peso rebounded against the greenback on Tuesday as the market considered inflation, which fell within expectations of the central bank, in a positive light.
The local currency strengthened by 5 centavos to close Tuesday at P51.46:$1 from P51.51 Monday.
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Inflation clocked in at 4.0 percent in January, the fastest in over three years, but still within the Bangko Sentral ng Pilipinas’ (BSP) 2.0 to 4.0 target range.
Dumalagan noted the market will now closely monitor the policy meeting of the BSP on Thursday, February 9. —VDS, GMA News