Manila, Sept. 16 -- The peso strengthened on Wednesday as global oil prices cooled and anticipation grew for Mynt's upcoming GCash initial public offering (IPO), though local stocks continued their downward slide.

The local currency improved against the greenback, finishing the day at 62.73 from Tuesday's 62.83.

It opened at 62.80, up from the previous day's 62.90.

It traded between 62.68 and 62.80, bringing the day's average to 62.73.

Volume reached USD1.35 billion, down from nearly USD1.9 billion the previous day.

In a market report, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the currency benefited from a pullback in global oil prices and market buzz surrounding GCash IPO slated for October.

Oil Pri...