The peso appreciated against the dollar Wednesday tracking counterparts in the region due to higher appetite for Asian currencies.
It gained P0.11 to close at 40.62 from the previous day's 40.73 finish.
It started the day at 40.68 and traded between 40.69 and 40.61. This brought the average for the day at 40.65.
Volume of trade reached US$ 943.3 million, lower than the US$ 1.16 billion Tuesday.
A trader said investors' risk appetite for the region's currency are high resulting in a "lot of inflows in the most part of the day."
"People are looking at currencies and investments with a higher yield," the trader said.
Another positive boost to the peso is the expectation for higher growth of the domestic economy in the last quarter and the full-year 2012, which the government is set to release Thursday (January 31).