MANILA, Philippines - The peso went back to the 43-to-$1 territory yesterday after reports that the government is preparing measures to stem the continued appreciation of the peso against the dollar.

At yesterday’s trading at the Phillipine Dealing Exchange Corp. (Pedex), the peso weakened by 54.50 centavos to close at 43.245 from Friday’s close of 42.700 to the dollar.

Finance Secretary Cesar Purisima said the government is looking at “other options” to stem the continued appreciation of the peso against the dollar, including choosing to borrow more from the local market and pay some foreign-currency debt ahead of schedule. .

The peso opened strong at 42.800 before hitting a high of 42.780 and a low of 43.250 to $1. Total trading volume hit $1.041 billion on an average rate of 43.029 to $1.

The currency touched a two-year high of 42.47 on Nov. 5 and Nov. 4.

“We are looking at all options to smoothen the flow of foreign currency into the country,” Purisima said. “There are other options but at this point, I’m not at liberty to share it,” he told reporters.

Bangko Sentral ng Pilipinas eased rules on foreign-exchange outflows on Oct. 28 as it joined other countries in the region that have signaled they will slow gains in their currencies to protect exporters.

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