Archive · 23 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 it's getting harder and more expensive.
The peso's value is affected by rising oil prices and a strong dollar.
The BSP wants to keep the peso stable to control inflation, but if oil prices keep rising, the peso might weaken further.
Other countries like India and Japan are also dealing with similar issues.
The Philippine peso has been near its record low of 61.75 per dollar since April 30.
The BSP is intervening by selling dollars to support the peso.
Rising oil prices and a strong dollar are putting pressure on the peso.
BSP interventions are draining foreign-exchange reserves.
The peso is forecast to remain steady by the end of the quarter.
- Who
- Bangko Sentral ng Pilipinas (BSP)
- What
- Philippine peso holding near record low
- When
- Since April 30, with recent interventions this week
- Where
- Philippines
- Why
- Due to oil price surges and dollar strength
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
Market forces, including oil prices and dollar strength, are driving the peso's depreciation.
Economic Impact
Central Bank Intervention
Intervention helps stabilize the peso and control inflation, but it drains foreign-exchange reserves.
Market Forces
Allowing the peso to depreciate naturally can lead to more significant economic adjustments but may increase inflation.
- Record Low
- 61.75 per dollar
- Central Bank
- Bangko Sentral ng Pilipinas (BSP)
- Current Governor
- Eli Remolina
- Reserves Depletion
- More than 5% this year
- Forecast
- Peso to remain steady by end of quarter