Peso hits record low 61.56 per dollar

MANILA, Philippines — The peso’s depreciation extended for second straight session yesterday, closing at another record low as persistent external pressures continued to weigh on the local currency.

Data from the Bankers Association of the Philippines showed the peso settled at P61.567 per dollar, weaker by 26.7 centavos from Tuesday’s P61.30 finish.

The latest close also marked a cumulative depreciation of about P2.78, or roughly 4.5 percent, from its P58.79 finish on Dec. 29, 2025.

The local currency opened at P61.20, which was also its strongest level of the day, before weakening to as low as P61.67, its weakest intraday level on record.

Trading volume went down by eight percent to $1.61 billion yesterday from $1.75 billion on Tuesday.

“The peso weakened to reach new record lows amid prospects that US interest rates might remain elevated for longer,” a trader said.