Rising oil prices pressure Philippine peso to a record low

金十2026/03/16 06:29

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Golden Ten Data reported on March 16 that the US dollar broke through the key psychological level of 60 against the Philippine peso on Monday, setting a new intraday historical high. Foreign exchange strategists from OCBC Global Research stated in a report that Asian currencies are generally sensitive to factors such as oil price fluctuations, global risk sentiment, and US dollar weakness. Rising oil prices pose trade headwinds for several regional economies, further increasing the pressure faced by Asian currencies including the Philippine peso.

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