Peso Dips to New All-Time Low Amid Geopolitical Tensions

The Philippine peso has hit an all-time low against the US dollar during intraday trading on Wednesday, September 2, 2026. The local currency dipped to a new record low of P62.605:$1, surpassing its previous historic low of P62.4:$1 set just a day prior.

The peso has been experiencing sharp movements against the dollar for three consecutive trading days due to lingering Middle East concerns and hawkish signals from the US Federal Reserve.

According to earlier statements by the Philippine central bank, they are actively managing these fluctuations in the exchange rate while noting that a weak currency can have inflationary effects.