Peso closes at 63.09 per dollar — another record-low close

Peso closes at 63.09 per dollar — another record-low close

📌 On Monday, October 19, the Philippine peso closed at 63.09 per dollar, once again setting a record-low close. The previous record-low close was 63.06 pesos on Thursday, October 15, and on Friday, the 16th, it fell intraday to 63.23 pesos before rebounding to close at 62.985 pesos.

■ What Changed
· On the 19th, the peso opened at 62.98, moved between 62.98 and 63.17, and closed at 63.09. The daily weighted average was 63.088 pesos, weaker than the 63.068 pesos on the 16th.
· The intraday low remains the 16th's 63.23 pesos.
· The Manila Times headline listed 63.09 pesos as the record low, but its body text gave the close as 63.06 pesos, so reports differ.

■ Why It Weakened
· The Daily Tribune cited higher-than-expected U.S. inflation, which increased expectations that U.S. interest rates would stay high and pushed the dollar to its strongest level in 18 months. It also pointed to geopolitical risks and a decline in foreign exchange reserves.

■ Tips for Residents and Travelers
· For people converting dollars or other foreign currencies into pesos, this exchange rate means they receive more pesos.
· Conversely, a weaker peso can add pressure on import and fuel prices, so residents who spend in pesos should keep an eye on price trends.
· Before exchanging money, compare the posted rates at different exchange counters.

■ Sources
Daily Tribune (10/19), The Manila Times (10/17, 10/19)

■ Photos
· 1. Stock photo · U.S. dollar bills and a Philippine 1,000-peso bill — The Manila Times
· 2. Stock photo · Hands counting peso bills beside dollar bills — The Manila Times