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Peso Crashes to New All-Time Low Amid Global Oil Price Surge

Guavy AI Editorial Team
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The Philippine peso has reached an all-time low against the US dollar, closing at P62.59:$1 on Friday, September 4, 2026.

This marks a new record low for the peso, surpassing its previous low of P62.565:$1 set just two days prior on Wednesday, September 2, 2026.

Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort attributed the peso's weakness to higher global oil prices and continued tensions in the Middle East.

Brent crude was trading at $95 per barrel on Friday, which is among the highest in over a month.

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