The Philippine peso finished at a seven-year high against the US dollar. It closed at Php 44.35 per dollar on Oct. 9, bringing its cumulative gains verus the greenback so far this year to 10.5%.
On the other hand, the stock market index reached a new intra-day trading high of 3,896.74 points, before settling at 3,873.5 points.
The market is still experiencing the spillover of the central bank rate cut. Wall Street's gains last Friday, Oct. 5, boosted share prices in the local bourse, while the rising OFW remittances from abroad kept the peso afloat.
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