Peso breaches 63-level vs dollar, hits record low
US dollar and Philippine peso bills are seen in this file photo.
Philstar.com / File photo
MANILA, Philippines — The Philippine peso breached the P63:$1 level for the first time on Thursday, hitting a fresh record low against the US dollar amid renewed tensions in the Middle East.
Data from the Bankers Association of the Philippines showed the peso weakened to P63.15:$1 in early trading, surpassing its previous intraday record low of P62.925.
The peso opened at P62.83:$1 before closing at P62.87:$1 on Wednesday, October 14.
The previous close was just three centavos shy of the record-low closing rate of P62.90 recorded on October 8.
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