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Peso Hits New Low as Oil Prices Soar Amid Middle East Tensions

Guavy AI Editorial Team
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The Philippine peso may continue to test new lows against the US dollar this week due to soaring global oil prices amid the conflict in the Middle East.

On Friday, the peso sank by 9.7 centavos to a new all-time low of P61.847 versus the greenback from P61.75 on Thursday, which was the previous record.

This marks a significant depreciation for the peso year-to-date, with a decline of P3.057 or 4.94% from its P58.79 finish on Dec. 29, 2025.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort attributed the peso's weakness to rising crude oil prices, which have strengthened demand for the greenback.

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