The Philippine peso is at its fastest fall among currencies in ASEAN and the central bank might be forced to speed up its rate hike to 50 basis points (instead of two 25 bps).

Phl. peso now ASEAN’s worst performer

Philippines on the FATF’s gray list since 2021, as it advised the country to take measures to combat money laundering and financial risk.

AMLC continues to resolve strategic deficiencies listed by FATF

Rep. Joey Sarte Salceda of the House Ways and Means Committee sees the peso falling to as low as P65 to P68 to $1 in the near term and President Marcos can survive this currency crisis by doing what his father, the strongman Ferdinand Marcos Sr. did in the 1970s.

Saving the Peso

This man looks delightedly at hundred dollar bills, which now fetch P58.97 per $1 for lucky holders. 

ADORING THE PRICEY DOLLAR

The Philippine peso continues to get a beating in the trading floor shedding 39.1 centavos settling at P56.37 to $1, its lowest since November 2004, from its Monday’s close of P55.979 to $1.

Peso settles at P56.37 to $1, its lowest since 2004

At a time when the country is poised to reduce plastic usage to make good on its commitment to climate change adaptation measures, the Bangko Sentral just issued in April P1,000 plastic banknotes that would be difficult for ordinary citizens to handle.

BSP backtracks on rules of P1,000 bills

The country’s balance of payments slipped to a two year low despite the active market intervention of the Bangko Sentral to curb any further deterioration of the peso to the US dollar.

Dollar reserves hit 2-year low

BSP retired UDMC coins through defacement to protect the integrity of the Philippine currency.

BSP defaces UDMC coins

The Philippine peso may extend its record-setting slump against the greenback as billions of dollars of trade deficits weigh on the currency, increasing pressure on the central bank to intervene to slow its descent.

Phl peso may slide to an all-time low as trade deficit widens

Although the Bangko Sentral ng Pilipinas still finds the peso strong—after so much depreciation in recent weeks—it still works around interest rate policy as a cushion to defend the peso’s fall.

Defending the peso

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