Almost P64: Peso sinks to record P63.95 to a dollar
MANILA, Philippines — The Philippine peso continued its plunge to a new record low of P63.95 to $1 on Monday, October 26, finishing just five centavos short of the P64 mark.
The close marked the 32nd time this year that the peso ended at an all-time low.
The currency opened stronger at P63.535 before reversing course and closing 33.5 centavos weaker than Friday's previous record of P63.615.
The slide continued after the Bangko Sentral ng Pilipinas raised its benchmark interest rate by 50 basis points to 5.5% last week.
A weaker peso raises the cost of dollar-priced imports such as fuel for Filipino consumers.
It adds to pressures that affect the general cost of goods, or inflation, and risks increasing the peso cost of servicing foreign-currency obligations.
The country's external debt stood at $154.9 billion in the second quarter of 2026.
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