Forex
Peso Slumps to New Record Low at P62.35:$1 Amid Fresh Worries
The Philippine peso has hit a new historic low against the US dollar, trading at P62.35:$1 during intraday trading on Tuesday morning.
This marks a new record low for the local currency, surpassing its previous low of P62.265:$1 set just two days prior on August 28, 2026.
The peso's weakness can be attributed to fresh Middle East worries and the recent policy rate hike by the Bangko Sentral ng Pilipinas (BSP), which brought the benchmark policy rate to 5.0% last Thursday.