Economy
Philippine Peso Hits Record Low of P63.95 to $1
The Philippine peso hit a new all-time low of P63.95 against the US dollar on Monday, October 26. This marks the 32nd record low this year, raising concerns about increased import costs for fuel and upward pressure on inflation.
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The Philippine peso hit a new record low against the US dollar on Monday, trading at 63.8 pesos to the dollar as markets awaited the US Federal Reserve's upcoming meeting, with inflation concerns and potential interest rate hikes in focus.