Economy
Philippine Peso Hits Record Low Amid Rising Oil Prices and Geopolitical Tensions
The Philippine peso hit a record low, joining other Asian currencies under pressure from a global bond market rout and rising oil prices due to renewed geopolitical tensions involving Iran. This trend raises concerns about its impact on the domestic economy.
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Philippine stocks fell Wednesday, weighed down by rising global yields and oil prices due to renewed US-Iran tensions, alongside the peso's record low. The main PSEi index closed 0.67% lower.