Philippine Peso Hits New Historic Low, Briefly Touching ₱63.23 to $1
The Philippine peso briefly hit a new historic intraday low of ₱63.23 against the US dollar on Wednesday, extending its decline beyond the ₱63 level. Elevated oil prices due to Middle East geopolitical uncertainties and a strong dollar driven by hawkish signals from the US Federal Reserve are cited as key external factors.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- Sara Duterte Skips Senate Hearing on OVP Budget
Philippine Vice President Sara Duterte was absent from a Senate hearing on the proposed 2027 budget for her office, the Office of the Vice President (OVP). OVP staff attended to defend the budget, but her absence has raised questions.
- Bangus Growers Face Crisis Amid Falling Prices, Rising Costs
Bangus (milkfish) producers in Pangasinan, Philippines, are struggling with rising production costs and declining farm-gate prices, highlighting a growing challenge for the industry. A sharp price drop in early October has exacerbated their difficulties.
- Baguio City Proposes 13% Budget Increase for 2027 to Boost Growth, Smart City Initiatives
Baguio City, Philippines, has proposed a 2027 budget of P4.143 billion, a 13% increase from the current allocation. The move aims to sustain economic growth and accelerate its transition to a circular economy and smart city governance. Pangasinan province is also considering a budget hike.
- Supreme Court Declares Parts of National Budgets Unconstitutional, Raising Fiscal Discipline Concerns
The Philippine Supreme Court has declared several provisions of the national budgets for 2024-2026 unconstitutional. Concerns are rising over fiscal discipline as the court cited congressional increases to unprogrammed standby funds and special accounts as problematic.