Peso snaps five-day losing streak, strengthens to P61.67:$1 on Aug. 20, 2026

The Philippine peso snapped a five-day losing streak on Thursday, closing stronger against the US dollar following its drop to nearly the P62 level.

The local currency gained 14.5 centavos to close at P61.67:$1, from P61.815:$1 on Wednesday.

During intraday trading, the peso nearly touched the P62:$1 level, hitting P61.995:$1 after opening at P61.85:$1. The opening rate already surpassed the previous record low of P61.847:$1 recorded on July 24.

Rizal Commercial Banking Corp. chief economist Michael Ricafort said the peso was supported by the greenback’s decline versus major global currencies after “the US Treasury’s latest move to increase the buyback of long-term US government bonds in bringing down US Treasury yields… in an effort to bring down long-term US Treasury yields/borrowing costs from multi-year highs.”

The local stock market, meanwhile, also saw a recovery after three straight days of losses.

The benchmark PSEi gained 80.12 points or 1.30% to 6,238.46 at the closing bell. The broader All Shares likewise saw a 1.14% or 38.88-point increase to 3,435.23.

“The local index ended higher as bargain hunting emerged across the board following three consecutive days of losses,” said Luis Limlingan, Regina Capital head of sales.

“Buying interest lifted market sentiment, with investors taking advantage of lower valuations after the recent decline,” said Limlingan.

Around 3.475 billion shares valued at P8.775 billion, changed hands. Advancers led decliners, 113 to 67, and 66 issues were unchanged. — BM, GMA News