Macro Finance
PHP/USD: Philippine Peso Falls Past 62 Per Dollar on Elevated Oil Prices
Bloomberg Markets·August 28, 2026·1 min read
The Philippine peso weakened past 62 per dollar on Friday, breaching a level analysts had flagged as potentially prompting authorities to intervene. The decline is attributed to elevated oil prices, which increase import costs and pressure the currency. The breach could trigger central bank action to support the peso, though no intervention has been announced yet.
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