THE peso, the country’s local currency, gained strength and had been 0.41 percent stronger against the US dollar from year-to-date, the Bangko Sentral ng Pilipinas (BSP) said over the weekend.

But while the peso stood on more solid ground than it did at the start of the year to P43.606 per dollar, it had not been as volatile as some of its peers in the region were during the period.

According to BSP Gov. Amando M. Tetangco Jr., the value of the local unit changed little during the period, its volatility having averaged only 0.96 percent.

This, compared with the 0.94-percent volatility of the Indian rupee, the 0.87 percent posted by the Thai baht and the 0.82-percent volatility posted by Malaysian ringgit.

Volatile currencies make for more difficult business plans and programs as frequent changes in exchange-rate values necessarily determine whether one has made or lost money in cross-border transactions.

Tetangco said the currency appreciating the most in the region during the period was the Indonesian rupiah, which gained value by 4.45 percent.

The Korean won was the next biggest gainer as its value rose 4.44 percent, followed by the Singaporean dollar, which appreciated by 4.31 percent.

The Malaysian ringgit gained on the dollar by 1.23 percent, the Thai baht by 1.44 percent, and the Taiwanese dollar stronger by only 0.16 percent.

In volatility terms, the least volatile among currencies in Asia was the Japanese yen, which changed in value averaging only 0.68 percent.

The yen was more stable than the Malaysian ringgit, which posted a rate averaging 0.82 percent, or of the Thai baht with a volatility rate of 0.87 percent.

Proving more volatile than other currencies in the region were the Korean won at 1.73 percent; the Singaporean dollar at 1.63 percent; and the Taiwanese dollar at 1.12 percent.