Archive · 26 Jul 2026
Philippine Peso Holds Near Record Low
The Philippine peso has been hovering near its record low of 61.75 per dollar.
The central bank, BSP, is trying to support the peso by selling dollars, but this is costly and drains the country's foreign-exchange reserves.
The peso's weakness is due to rising oil prices and a strong dollar.
While the BSP aims to stabilize the peso to control inflation, market forces suggest further weakness if oil prices keep rising and the dollar strengthens.
The Philippine peso has mostly hovered around its record low of 61.75 per dollar since April 30.
The BSP has intervened by selling dollars to support the peso, but this is costly and drains foreign-exchange reserves.
The peso's weakness is exacerbated by rising oil prices and a strong dollar.
The BSP aims to stabilize the peso to control inflation, but market forces suggest further weakness ahead.
The peso has declined almost 5% this year, making it one of Asia's worst-performing currencies.
- Who
- Bangko Sentral ng Pilipinas (BSP), traders, market strategists
- What
- Philippine peso holding near record low
- When
- Since April 30, with recent interventions this week
- Where
- Philippines, global financial markets
- Why
- Due to oil surge, dollar strength, and market forces
Central Bank Intervention
Market Forces
Currency Support
Central Bank Intervention
The BSP is actively intervening to support the peso, selling dollars to prevent further depreciation.
Market Forces
The peso's value should be determined by market forces without artificial intervention.
Economic Impact
Central Bank Intervention
Intervention helps stabilize the peso and control inflation, protecting the economy.
Market Forces
Intervention drains foreign-exchange reserves and can lead to long-term economic instability.
- Record Low
- 61.75 per dollar
- Date of Record Low
- April 30
- Current Peso Performance
- Declined almost 5% this year
- BSP Governor
- Eli Remolona
- Foreign-Exchange Reserves Drop
- More than 5% this year