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Photo illustration of US dollar to PH peso exchange in this photo taken on September 30, 2022. Gigie Cruz, ABS-CBN News

Article (news)

Harlene Delgado

ABS-CBN News

<p>NEW YORK -- Malacañang said Monday that interventions such as an increase in interest rates would kick in should the Philippine peso further slump against US Dollar.</p><p><a href="https://www.abs-cbn.com/news/business/2026/3/9/peso-weakens-to-new-historic-low-of-p59-50-vs-dollar-amid-mideast-conflict-1740" rel="noopener noreferrer" target="_blank">Peso weakens to new historic low of P59.50 vs dollar amid Mideast conflict</a><br/>This comes after the Philippine peso weakened to a new historic low versus the US dollar at P59.50 to $1 at the end of Monday’s trading amid global uncertainties stemming from the conflict in the Middle East.</p><p>“Nakita po natin na ito ay talagang maaaring mangyari dahil sa nangyayari po na issue sa Middle East at mukhang ito po talaga ang consequence,” Palace Press Officer Undersecretary Claire Castro said in a press briefing Monday, March 9 in New York on the sidelines of Marcos’ three-day working visit.</p><p>“At nadinig na rin po natin ang Bangko Sentral patungkol po dito. At kung magtutuluy-tuloy po ito, ay magkakaroon po talaga ng intervention. At ‘yan naman po ay sasang-ayunan din po ng pamahalaan,” she added.</p><p>President Ferdinand Marcos Jr earlier said that he doesn&#x27;t want the peso to breach the 60-to-the-dollar level.</p><p>The BSP also earlier said the peso could hit P60-to-the-US dollar, but &quot;not soon&quot;. Central bank Governor Eli Remolona, however, made the remark before the outbreak of war.</p><p>Interest rates have fallen over the last year amid benign inflation, although an economist warned that sustained hikes in oil prices could trigger another spike in inflation.</p><p>Some analysts have said that many large Philippine businesses had already factored in the possibility of the peso weakening to P60 per dollar in their planning. </p><p>The peso was on a winning streak before the fresh outbreak of hostilities.</p><div><a href="https://www.abs-cbn.com/news/business/2026/3/9/sotto-to-prioritize-emergency-powers-for-marcos-jr-amid-rising-fuel-prices-1715" rel="noopener noreferrer" target="_blank">Sotto to prioritize emergency powers for Marcos amid rising fuel prices</a></div><div><strong>RELATED STORY:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/65d83176-jw?autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Malacañang said Monday that interventions such as increase in interest rates would kick in should Philippine peso further slump against US Dollar.</p>

Malacañang said Monday that interventions such as increase in interest rates would kick in should Philippine peso further slump against US Dollar.

‘Interventions’ in place should peso continue to slump vs dollar due to Middle East crisis – Palace

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‘Interventions’ in place should peso continue to slump vs dollar due to Middle East crisis – Palace

Harlene Delgado,

ABS-CBN News

Published March 10, 2026 11:14 AM PHT

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interest rates

Middle East

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