Arthur Fuentes

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

Article (news)

Peso dollar

Jessica Fenol

ABS-CBN News

MANILA — The Philippine peso continues to weaken and sank to a new low on Friday.Data from the Bankers Association of the Philippines showed the local currency at P61.847 to the US dollar at the close of Friday’s trade. It earlier opened at P61.80, which was already weaker than the previous historic low of P61.75, which it hit two days in a row this week.Analysts have warned that the weakening peso, coupled with rising world oil prices, may further stoke inflation, which has already averaged 4.8 percent this year–above the 2 to 4 percent target of economic managers.As oil is purchased in dollars, it becomes even more expensive in peso terms as the local currency decreases in value versus the greenback.ATRAM Group Chief Investment Strategist Phillipe Hagedorn said there is a chance that the peso may strengthen but this depends on several factors.&quot;The peso, although it has weakened to P61.5-P62 levels, I think with its [BSP] policies in place, you see energy market softening again, the peso will revert back to below P60. But it will all depend on what happens in this oil crisis, that&#x27;s the only thing that&#x27;s pushing us back,&quot; Hagedorn told ANC&#x27;s Market Edge.Inflation is also seen to remain &quot;sticky&quot; in the second half but could ease in the fourth quarter of the year, Hagedorn said.—  With reports from Michelle Ong, ABS-CBN News<div> </div><div> </div>

Data from the Bankers Association of the Philippines showed the local currency opening at P61.80 to the US dollar, weaker than its P61.75 closing level yesterday.

Data from the Bankers Association of the Philippines showed the local currency opening at P61.80 to the US dollar, weaker than its P61.75 closing level yesterday.

Peso continues to weaken; sinks to new low of P61.847 to US dollar

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Peso continues to weaken; sinks to new low of P61.847 to US dollar

Arthur Fuentes,

Jessica Fenol,

ABS-CBN News

Published July 24, 2026 11:46 AM PHT

|

Updated July 24, 2026 04:32 PM PHT

Read More:

peso dollar rate

forex

foreign exchange

peso depreciation

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