Nelson Morales

Peso touches new historic low in intraday trading

Article (news)

Arthur Fuentes

ABS-CBN News

MANILA— The Philippine peso touched a new low versus the US dollar during Wednesday’s trading. The peso slid to as low as P61.995 per dollar during intraday trading, before clawing back some strength to close at P61.815. Wednesday’s intraday low was already weaker than the historic intraday low of P61.85 reached on July 24. April Lee Tan, Head of Research at COL Financial, said the peso’s depreciation was partly because of the strengthening of the dollar amid rising bond rates in the US. Tan said that the peso’s direction will depend on whether oil prices go up or down in the coming days, and whether the US Federal Reserve hikes interest rates. A weakening peso complicates the task of economic managers, as it makes imports of commodities like oil more expensive, which can push up inflation. Families of OFWs may initially benefit from a stronger dollar, as they can get more pesos for every dollar sent. However, inflation will also eat into their purchasing power.  Debt payments are also sensitive to forex movements, with a depreciating peso making dollar-denominated borrowings more expensive in peso terms. “The BSP has a difficult job ahead,” Tan said. The Bangko Sentral ng Pilipinas is set to meet next week to decide on monetary policy. It delivered a 25 basis point hike in its last meeting, saying inflation remained elevated.

The peso slid to as low as P61.995 per dollar during intraday trading, before clawing back some strength to close at P61.815.

The peso slid to as low as P61.995 per dollar during intraday trading, before clawing back some strength to close at P61.815.

Peso touches new historic low vs US dollar in intraday trading

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Peso touches new historic low vs US dollar in intraday trading

Arthur Fuentes,

ABS-CBN News

Published August 19, 2026 04:33 PM PHT

|

Updated August 19, 2026 04:42 PM PHT

Read More:

peso dollar rate

forex

peso depreciation

strong dollar

April Lee Tan

ANC

BSP

interest rates

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