THE peso fell to a new all-time low of P60.55 to the dollar on Friday amid inflation worries and continued uncertainties over the war in the Middle East.
The currency weakened by 32 centavos, falling for a third straight day after a short-lived rebound from the previous record low of P60.3:$1 that was just hit on Monday.
The benchmark Philippine Stock Exchange index (PSEi) also ended the week lower, shedding 11.37 points, or 0.19 percent, to 5.972.83.
The broader All Shares, on the other hand, edged up 1.75 points for a 0.05-percent gain to 3,335.86.
The currency opened at P60.333 and traded from P60.285 to P60.57. Volume rose to P1.336 billion from P1.17 billion a day earlier.
Reyes Tacandong & Co. senior adviser Jonathan Ravelas said the peso weakened against the dollar as markets had started to price in oil-related risks, supporting near-term dollar demand.
He added that trading remained driven by constraints and that flows showed caution rather than panic.
“Expect range‑bound trading at 60.25-60.75, as uncertainty around energy persists,” Ravelas said.
Rizal Commercial Banking Corp. chief economist Michael Ricafort, meanwhile, said the peso’s weakening came amid doubts about talks between the US and Iran, the Bangko Sentral ng Pilipinas’ increased inflation estimates for 2026 and 2027 and “less hawkish signals” following Thursday’s decision to keep the policy rate at 4.25 percent.
Japhet Tantiangco, research manager at Philstocks Financial Inc., also tagged the BSP’s having raised this year’s inflation outlook to an above-target 5.1 percent, from 3.6 percent previously, and uncertainty over the duration of the United States and Israel’s war on Iran.
Regina Capital Development Corp. head of sales Luis Limlingan said the week ended relatively flat — the PSEi closed 0.76 percent down week on week — as the ongoing war in the Middle East and the peso’s fall continued to dampen risk appetite.
He said investors largely stayed on the sidelines, awaiting clearer global developments.
Trading was muted, with net value turnover at P4.94 billion, while foreign investors continued to exit, posting net outflows of P95.54 million.
Holding firms and property were the only sectoral indices to end the day in the green, up by 0.68 percent and 0.04 percent, respectively, while mining and oil fell the most, dropping 0.72 percent.
Advancers narrowly outnumbered decliners, 92 to 91, while 54 were unchanged.