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Asia's Best-Performing Currency Gets Boost as Central Bank Stands Aside

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Diokno: Philippine Monetary Pause Possible to End of Year

The Philippine peso advanced closer toward the psychologically significant level of 48 per dollar after central bank Governor Benjamin Diokno said the market was free to determine its level.

Asia’s best-performing currency this year advanced to as strong as 48.62 on Monday after Diokno told Bloomberg Television: “If that’s where the market is going, we can’t do anything about that at the moment.”