Economy
Philippine Peso Nears 64:$1, Hits New Record Low
The Philippine peso extended its losses to a new record low, nearing the 64:$1 mark as investors brace for key central bank decisions amidst geopolitical tensions and rising oil prices.
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- Peso crashes to new record-low, flirts with 64:$1
The Philippine peso hit a new record low of 63.95 against the US dollar, despite recent interest rate hikes by the Bangko Sentral ng Pilipinas. Rising oil prices, geopolitical risks, and eroding investor confidence are fueling the peso's decline. Experts emphasize that addressing structural economic issues is crucial for its recovery.