Philippine peso slides to fresh record low, edging toward 64 per dollar

The Philippine peso extended its decline on Monday, ending at 63.95 per US dollar, a fresh all-time low and the fifth consecutive session at record levels. The drop of 33.5 centavos came as trading volume climbed to $1.6 billion, reflecting heightened market activity ahead of policy decisions from five major central banks, including the US Federal Reserve and the European Central Bank. Rising oil prices and comments from Donald Trump about potential renewed military action against Iran strengthened the dollar, further weighing on the peso.

Despite a recent 50-basis-point rate hike by the Bangko Sentral ng Pilipinas to 5.5%, the currency remained vulnerable, with analysts warning that continued geopolitical and supply-side pressures could push the exchange rate past 64 per dollar. Economists highlighted that stronger fundamentals and restored investor confidence are needed to reverse the trend.