The currency climbed 0.8% to 60.79 per dollar on Thursday, its biggest rise since April 8, as hopes for a US-Iran peace deal eased oil-price concerns.
The move puts the peso on track to end a three-week losing streak after pressure from higher crude costs on the import-dependent Philippine economy.
Before Thursday's rebound, the peso had been Asia's worst-performing currency after the Indian rupee, reflecting the Philippines' heavy reliance on Middle Eastern energy imports.
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