Peso extends decline midday Thursday

MANILA, Philippines - The peso extended its decline against the dollar midday Thursday, as it settled at 45.096, weaker than its 45 finish yesterday.

Total volume reached $472.4 million as of Thursday afternoon, higher than the $411.4 million posted the same time yesterday.

The peso returned to the 45 to $1 range yesterday after more than three years, when it hit 45.08 to a dollar last Sept. 1, 2010.

Bangko Sentral ng Pilipinas Governor Amando Tetangco, Jr. attributed the peso's decline to uncertainties surrounding the speed and duration of the United States Federal Reserve's tapering.