THE Philippine peso sank to a new historic low during Wednesday’s trading, breaking further past the psychological ₱63 mark to extend its downward trend.
The local currency opened at ₱63.01 against the US dollar and dipped to an intraday bottom of ₱63.23, with the day’s high also reaching only ₱63.01 — reflecting persistent weakness across the session. The decline follows Tuesday’s close of ₱63.09, which matched Monday’s finish and marked the 28th record low registered so far this year.
This latest milestone comes just days after the peso first breached the ₱63 threshold on October 15, when it settled at ₱63.06 — then the 27th all‑time low of 2026.
The streak of consecutive record lows underscores mounting pressure on the currency driven by a stronger US dollar, elevated global commodity prices, and broader investor caution toward emerging‑market assets. Market analysts note that the rapid succession of new lows indicates the peso’s downward momentum has not yet fully abated.
Further depreciation carries direct implications for Filipino households and businesses, as it translates into higher costs for imported fuel, food, and raw materials — potentially adding upward pressure on inflation. The Bangko Sentral ng Pilipinas is closely monitoring developments and may consider additional policy measures to stabilize the currency. Consumers and firms are advised to prepare for continued volatility in the foreign exchange market in the near term.
metrosundaily
