Philippine peso gains against US dollar for third straight trading day

The Philippine peso sustained its strength against the US dollar on Tuesday, extending its win-streak for the third consecutive trading day.

The local currency closed at P63.47:$1, gaining 27 centavos from P63.74:$1 on October 30, 2026.

The peso was “largely relieved by signals of reassurance on the peso exchange rate by President [Ferdinand] Marcos Jr. since October 28, 2026,” according to Rizal Commercial Banking Corp. chief economist Michael Ricafort.

Last Wednesday, the President sought to allay concerns after the peso hit a new record low against the US dollar.

“Well, first of all, do not take it with alarm. Don't panic,” the President said, noting that his administration was defending the peso “as hard as we possibly can.”

“People can take solace in the fact that our policy towards the peso is to continue to defend the peso as hard as we possibly can. We have all the tools to defend the peso. We have all the means to defend the peso,” Marcos said.

Ricafort added that the recent long holiday weekend, in observance of All Saints' Day and All Souls' Day, also “led to some conversion of US dollars to pesos by some OFWs and their families to finance travel to hometowns and other destinations across the country.” —NB, GMA News