Philippine Peso Declines to Record Low as Rate Outlook in Focus

The Philippine peso fell to a record low as traders viewed comments from the nation’s central bank as dovish.

The peso fell as much as 0.2% to 59 per dollar on Thursday, a level it last touched in late 2022. Central bank Governor Eli Remolona said Wednesday that interest rates may be cut or put on hold in December, depending on inflation and other economic data.