January 8, 2026
MANILA – The Philippine peso reached a new weakest level against the US dollar on Wednesday, pressured by a rallying greenback.
READ: Peso flirts with new record low amid bullish dollar run
This happened as markets shrugged off recent geopolitical turmoil and waited for key US macroeconomic data due this week.
The local currency shed 14.5 centavos from its previous finish to end the trading session at 59.355 versus the dollar.
READ: OFW remittance fees may drop by 50% under Senate bill
The peso was previously weakest at 59.22 per dollar, set in December 2025.
Markets were largely in wait-and-see mode ahead of US labor data and nonfarm payrolls report this week. This could set the tone for the Federal Reserve’s rate outlook. INQ