Economy
Philippine Peso Hits New Record Low of 62.90 to the Dollar
The Philippine peso fell to a new record low on Thursday, closing at 62.90 to the US dollar. Expectations of higher US interest rates strengthened the dollar, accelerating the peso's depreciation to a new all-time low, surpassing the previous record of 62.86 set on September 14.
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- Philippine Peso Hits New Record Low Against Dollar, Closes at 62.90:$1
The Philippine peso hit a new record low against the US dollar, closing at 62.90:$1. The decline is attributed to high US interest rates and rising oil prices.