Economy
Philippine Peso Hits Record Low of P63.615 to Dollar
The Philippine peso hit a fresh record low of P63.615 against the US dollar on Friday, marking its 31st all-time low this year. The central bank indicated it would intervene in the market primarily to curb inflation, not to support a specific exchange rate.
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- Philippine Peso Falls Past 63.5:$1 Amid Sustained Dollar Strength
The Philippine peso hit a new record low, closing at 63.52 per dollar despite a larger-than-expected interest rate hike by the Bangko Sentral ng Pilipinas. Sustained US dollar strength continues to weigh on the local currency, signaling potential inflationary pressures and increased import costs for the Philippines.