Philippine peso falls to record low of ₱61 against $1

The Philippine peso hit a record low of P61.62 per dollar on April 29, after breaching P61.30 the previous day, per the Bankers Association of the Philippines.

BSP projects inflation at 6.3% in 2026, above target, amid stalled Iran–U.S. talks and elevated oil prices.

HSBC economist Aris Dacanay said the drop mirrors broader Asian currency weakness from a strong US dollar.