Peso dives near P62:$1, hits new historic low

The Philippine peso on Wednesday dipped to a fresh record low against the US dollar, nearly touching the P62-to-one dollar territory.

During intraday trading, the local currency hit a low of P61.995:$1 and an intraday high of P61.84:$1, after opening at P61.85:$1 from the previous close of P61.785:$1 on Tuesday.

The peso's current standings against the greenback are weaker than the record low of P61.847:$1 recorded last July 24, 2026.

The local unit has been declining recently, within the P61-to-one dollar levels, due to volatile global fuel prices amid renewed tensions in the Middle East. — VDV, GMA News