Peso Sinks to New Record Low for Third Straight Day as War Drags on - BusinessWorld Online

Peso continues to slide, falls to new record low of 61.75:$1

Peso continues to slide, falls to new record low of 61.75:$1 on Monday, which is the first trading day of the week.

Peso sinks to new record low for third straight day as war drags on - BusinessWorld Online

THE PESO dropped to new record low on Monday as the Strait of Hormuz’s continued closure due to the standoff between the United States and Iran drove oil prices higher, fueling demand for the greenback. The currency edged down by 2.9 centavos to close at P61.75 a dollar from P61.721 on Friday, according to Bankers Association of the Philippines data posted on its website. Year to date, the peso has depreciated by P2.96 or 4.79% from its P58.79 f…

Peso hits fresh record low near ₱62:$1 on ‘more sensitive’ market

The Philippine peso plummeted again to a new historic low, brushing the whiskers of the ₱62:$1 level on the back of strong demand for the safe-haven United States (US) dollar and a local market that has turned more sensitive to uncertainties.The peso started the week at a new record low against the greenback, closing at ₱61.75 on Monday, May 18, from ₱61.721 last Friday, May 15.According to the Bankers Association of the Philippines (BAP), the l…