Philippine peso slips past 63.5 per dollar amid strong US currency
The Philippine peso fell to a new low, closing at 63.52 per US dollar despite a larger-than-expected rate hike by the Bangko Sentral ng Pilipinas.
Why it matters
A weaker peso raises import costs and could fuel inflation, affecting everyday Filipinos and investors.
In this story
pesorecord lowUS dollar strengthinterest rate hikeinflationcurrency depreciationBangko Sentral ng Pilipinas
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