Benise Balaoing

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 opens at P62.05

Arthur Fuentes

ABS-CBN News

<p>MANILA — The Philippine peso weakened for a second straight day and finally breached the psychological barrier of 62-to-the-dollar.</p><p>At the end of Friday&#x27;s trading, the peso had sunk to P62.265 versus the US dollar, it&#x27;s weakest level in history. </p><p>The local currency had already opened weaker at P62.05 against the dollar, which was already weaker than its previous all-time low of P61.888.</p><p>The peso has been battered this year, as the US war against Iran sent oil prices soaring.</p><p>A weakening peso means imports of commodities like oil become more expensive, which can push up inflation. </p><p>On the other hand, a stronger dollar may initially benefit families of overseas Filipino workers, as they can get more pesos for every dollar sent. But inflation may also eat into their purchasing power.  </p><div><em>More details to follow.</em></div><div><em><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/wClmee3sOco?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></em><br/></div>

<p>The peso opened at P62.05 against the dollar on Friday morning, August 28.</p>

Peso weakens to new historic low of P62.265 vs dollar

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Peso weakens to new historic low of P62.265 vs dollar

Benise Balaoing,

Arthur Fuentes,

ABS-CBN News

Published August 28, 2026 09:54 AM PHT

|

Updated August 28, 2026 04:28 PM PHT

Read More:

Peso-dollar exchange rate

foreign exchange

peso

Peso-dollar

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