Correction made the peso appreciate against the dollar Tuesday.
The local currency gained P0.17 to close at 40.73 from Monday's 40.91 finish.
A trader said there "was a short covering" for the dollar, which is in line with the rebound of most Asian currencies against the US currency.
"There was also a downward pressure today because of high corporate demand," the trader said.
The trader said "it was a choppy trading day" referring to the wide trading range of 40.91 and 40.71. This after the peso opened at 40.85 Monday.
Volume of trade amounted to US$ 1.16 billion, slightly lower than the US$ 1.20 billion in the previous day.