# Why has the Philippines’ peso plunged to a record low?

https://mins.news/en/item/45042

- Al Jazeera, 2026-09-04 08:38 UTC
- Economy
- Original: https://www.aljazeera.com/economy/2026/9/4/why-has-the-philippines-peso-plunged-to-a-record-low?traffic_source=rss

> The Philippine peso fell to an all-time low of 62.71 to the US dollar on Friday, extending a decline of about 6 percent since the start of the year. Higher oil prices linked to the Iran war, a stronger dollar, rising US Treasury yields, fiscal and trade deficits, and elevated inflation are weighing on the currency. The government says the central bank may intervene, while remittances offer some support.