Peso Hits Record Low Of ₱60.00 vs. US Dollar.

The Philippine Peso breached a psychological barrier today, closing at a historic low of ₱60.007 per USD. The rapid depreciation is being driven by the Middle East maelstrom, which has pushed global oil prices above $100 per barrel and stoked fears of a repeat of the 2022 inflation surge. While the Bangko Sentral ng Pilipinas (BSP) has kept interest rates at 4.25% for now, economists warn that a rash rate hike may be necessary by April if the energy-driven price shocks don't subside.

©YovaniBernard