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Global geopolitical tensions
- The depreciation of the peso comes amid global geopolitical tensions that have weighed down the US dollar in international markets. This includes increased tensions in the Middle East, specifically with Iran's recent launch of explosive drones and missiles at Israel late Saturday, prompting concerns about a potential wider regional conflict.
www.philstar.com/business/2024/04/16/2348182/peso-hits-near-low-closes-p57-against-us-dollar
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May 21, 2024 · Philippines Warns of Intervention as Peso Drops Past Key Level. Currency approaches record low level touched in 2022; Governor Remolona said BSP to intervene when necessary
Apr 16, 2024 · The Philippine peso continued to depreciate against its US counterpart on Tuesday to hit the P57:$1 level and mark its worst showing in nearly 17 months, as the greenback was weighed down by geopolitical tensions. The local currency shed 19.2 centavos to close at P57:$1 from Monday’s finish of P56.808:$1.
Apr 16, 2024 · The Philippine peso depreciated by 19.2 centavos from Monday's closing rate of P56.808, a few days after the British banking giant HSBC speculated that the currency would outperform its Asian...
Dec 19, 2022 · The Philippine peso has seen its value depreciate against the US dollar (USD) during the past months. After reaching a record-low of P56.77 to $1 on Sept. 2, the local currency hit several record-lows subsequently plunging to a historic low of P59 per US dollar during the week of Oct. 10 through 17.
Jul 24, 2024 · There are several reasons why the peso will continue to depreciate in the long run. One factor is the persistent trade deficit, which creates a continuous demand for foreign currencies ...
- Henry Ong
Sep 3, 2022 · The Philippine peso sank on Friday to its lowest level in history at P56.77 against the US dollar as the greenback’s rally ravaged currencies across the globe.
May 27, 2024 · It is now hovering around 58.20, edging closer to the record low of 59.20 set in October 2022. This decline marks the peso as one of the worst-performing currencies in Asia this quarter.
