The Philippine peso strengthened back to the 59-per-dollar level yesterday morning, April 8, after risk appetite improved following US President Donald Trump’s agreement to a two-week ceasefire with Iran.
The currency opened at 59.661 against the greenback and climbed to an intraday high of 59.515. The peso closed at 60.33 in the prior session.
In a post on Truth Social, Trump said his decision to suspend planned attacks on Iranian infrastructure was “subject to the Islamic Republic of Iran agreeing to the complete, immediate and safe opening of the Strait of Hormuz.” (Ian Nicolas P. Cigaral © Philippine Daily Inquirer)
