Philippine Peso Hits Record Low Amid Subdued Asian Currencies
The Philippine peso has hit a record low against the US dollar, underscoring a broader trend of subdued Asian currencies. This depreciation raises concerns about domestic economic stability and foreign investment.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- PSEi Dips as Investors Await Inflation Data, Factory Output Woes
The Philippine stock market closed lower as investors adopted a cautious stance ahead of the release of October inflation data. Weak factory activity, contracting for the second consecutive month, also weighed on sentiment, pushing the benchmark index down by 0.99%.
- Philippines' Growing Rice Demand Fuels Surge in Cambodian Exports
The Philippines' increasing demand for rice is significantly boosting Cambodian rice exports, making Manila its largest market within ASEAN. This shift sees a decrease in re-exports via Vietnam and a rise in direct procurement.
- BSP Not Yet Considering Rate Cuts Amid Inflationary Pressures
The Bangko Sentral ng Pilipinas (BSP) is not yet considering interest rate cuts, as monetary tightening remains necessary to contain inflation. Inflation is expected to remain elevated in the coming months, with the policy rate currently at 5.50%.
- Palace Urges Budget Watchdogs to Scrutinize 2027 Budget 'Red Flags'
The Philippine Presidential Palace urged budget watchdogs to report any "red flags" in the proposed P7.2-trillion national budget for 2027. President Ferdinand Marcos Jr. stated he would take note of any alleged anomalies flagged by these groups.