The peso snapped a decline for five sessions when it ended at P58.98 against the dollar after declining to the P59 level on Wednesday.

It was higher than Tuesday's P58.99 against the dollar, an all-time low.

The peso reached the day's lowest of P59 in afternoon trading, where volume amounted to $314 million, lower than the morning's $883 million.

Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $1.197 million compared to Tuesday's $1.062 billion. DMS