Philippine peso hits new record low of 63.8 per dollar
The Philippine peso fell to a new intraday low of 63.8 per US dollar, extending its record decline.
The currency opened at 63.535 and slipped to 63.8 by mid-morning, according to data from the Bankers Association of the Philippines. The drop comes as traders await the Federal Reserve’s policy meeting on Oct. 27-28, where rates are expected to stay unchanged. The previous record was 63.62.
Why it matters
A weaker peso raises import costs and inflation risks for the Philippines ahead of the US Fed decision.
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