Peso on a roll, hits P51.095:$1

The Philippine peso on Monday morning continued its winning streak against the US dollar, opening stronger than its record values posted last week. The local currency opened at 51.15, which is three centavos better than Friday's close of 51.18. The peso posted its best values in about three and a half years last Thursday and Friday. It threatened to breach to 50-level during the first hour of Monday's trade, reaching its strongest value of 51.095. Traders placed its lowest value at 51.155, only half a centavo lower than its opening rate. President Arroyo visited on Monday morning the Philippine Stock Exchange (PSE) to bang the opening bell, the ceremonial act to signal the start of the day's trade. The President's previous visits to the PSE have sent good signals to traders, according to reports from GMA 7's DZBB. Mrs. Arroyo lifted Friday Proclamation 1017, which placed the government under a state of national emergency, despite twin "minor" bomb blasts in the Ortigas business district where the PSE is located.-GMANews.TV