Philippine peso slips past 63 per dollar, hitting new historic low
The Philippine peso closed at 63.09 against the US dollar, breaking the 63 per-dollar barrier for the first time.
On Monday, the peso weakened to 63.09 per US dollar, according to data from the Bankers Association of the Philippines. The decline was driven by a stronger greenback, rising oil prices and broader global uncertainty. This marks the deepest level the currency has reached since the benchmark was introduced.
Why it matters
A weaker peso raises import costs and inflation risks for Filipino consumers and businesses.
In this story
pesorecord lowUS dollaroil pricesglobal uncertaintyinflationemerging markets
