Economy
Peso hits fresh record-low 61.847 to US dollar
The Philippine peso hit a fresh record low against the US dollar, closing at 61.847 on Thursday. Escalating tensions in the Middle East, which drove up crude oil prices, fueled concerns over imported inflation.
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The Philippine peso has weakened further against the US dollar, hitting a new record intraday low. Factors contributing to the depreciation include surging global oil prices and new tariffs imposed by the United States, with analysts also pointing to Middle East tensions and seasonal import demand.