Peso sinks to record low on strong dollar, political jitters
The Philippine peso has hit a record low of 62.59 against the US dollar. This decline is attributed to a combination of a strengthening dollar, rising US Treasury yields, and domestic political uncertainty.
Why it matters
Currency devaluation can lead to higher import costs and inflationary pressure, impacting the purchasing power of the Philippine population.
Forex closing September 4, 2026 MANILA, Philippines - The Philippine peso fell to a fresh all-time low on Friday as a stronger dollar and rising US Treasury yields, combined with political uncertainty at home, weighed on the currency.
The peso lost 7 centavos from its previous close to end at 62.59 per dollar, its weakest finish on record. It touched an intraday low of 62.65 before paring the decline.
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