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Peso climbs with US, Iran set to resume talks
June 30, 2026
|Business World Philippines
THE PESO strengthened against the dollar on Monday after the United States and Iran agreed to stop the latest exchange of attacks and restart their peace talks.
The currency appreciated by 12 centavos to close at P61.17 versus the greenback from P61.29 on Friday, based on Bankers Association of the Philippines data posted on its website.
The local unit opened Monday's session a shade weaker at P61.30 per dollar. It dropped to a low of P61.32, while its intraday best was at P61.125 against the greenback.
Dollars traded sank to $1.427 billion on Monday from $2.05 billion on Friday.
"The dollar-peso closed a bit lower most likely on improving risk sentiment on stalled US-Iran attacks ahead of peace talks," a trader said in a phone interview.
"US and Iran agreed to stop retaliatory attacks before peace talks resume this week in Doha, Qatar...; as a result, global crude oil prices mostly corrected slightly higher but nevertheless still erased almost all of their increase since the war started more than four months ago," Rizal Commercial Banking Corp.
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