Peso hits new record low of ₱62.68 on oil surge, US rate fears
The Philippine peso has hit a record low of ₱62.68 against the US dollar, driven by rising global oil prices and concerns over US interest rates. Analysts expect the currency to remain under pressure as geopolitical tensions impact energy supply.
Why it matters
Currency devaluation in the Philippines increases inflationary pressure and import costs, impacting the broader ASEAN economic landscape.
Manila Bulletin - Peso hits new record low of ₱62.68 on oil surge, US rate fears
Peso hits new record low of ₱62.68 on oil surge, US rate fears
Just two days after the previous record low, the Philippine peso plunged to a fresh record low of ₱62.68 against the United States (US) dollar amid oil prices staying steady above the $100-per-barrel mark.
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