The Philippine peso continues to weaken and ends Friday at a fresh record low against the US dollar, finishing at 61.847 pesos per US$1. Multiple reports say the decline is driven by a stronger broadly based US dollar, supported by rising US Treasury yields, and by higher oil prices that rebound above $100 a barrel amid renewed Middle East tensions. The oil price surge is also described as raising concerns about another inflation shock.
In intraday trading, the peso opens around 61.80 per dollar and falls further, reaching an intraday low near 61.845–61.85 before recovering slightly. The final level marks a weakening of about 9.7 centavos versus the previous record-low close of 61.75. Market participants also factor in uncertainty tied to renewed global trade tensions, which encourages a shift toward safer assets such as the US dollar.
Trading volume is reported to be lower than the prior session, suggesting thinner market activity. Overall, the reports present a consistent picture of the peso weakening due to US dollar strength, higher crude prices, and broader risk and inflation concerns.
