Philstar.com·1 min read·medium
Peso hits fresh record-low 61.847 to US dollar
✦AI Summary
The Philippine peso reached a record low of 61.847 against the US dollar due to rising geopolitical tensions between the US and Iran. The market is reacting to fears that higher oil prices will exacerbate imported inflation.
MANILA, Philippines — The peso sank to a new record low of 61.847 against the dollar yesterday as escalating tensions between the United States and Iran drove up crude oil prices, stoking fresh concerns over imported inflation. Data from the Bankers ... [1807 chars]
businesseconomy
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