{
  "id": 14742273,
  "title": "Peso crosses 63 to $1 level",
  "url": "https://urgent.news/2026/10/15/peso-crosses-63-to-1-level",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-15T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/16/2563467/peso-crosses-63-1-level"
  },
  "original_language": "en",
  "account": "Manila, Philippines — The peso recently crossed the 63-to-a-dollar threshold, settling at an all-time low against the US currency. This drop occurred as US inflation rose, signaling possible prolonged high interest rates and a strengthening dollar against emerging-market currencies. According to the Bankers Association of the Philippines, the peso closed at 63.06 to $1, a 19-centavo decline from Wednesday’s finish of 62.87. This rate surpassed the previous low of 62.90, set on October 8. The peso began the trading day at 62.83, fluctuating between 62.75 and a record intraday low of 63.15 before stabilizing. Trading volume surged 59.6 percent, reaching $1.5 billion, compared to $941 million the previous day. UnionBank chief economist Ruben Carlo Asuncion attributed the peso's weakness to stronger US inflation and expectations of prolonged high interest rates from the Federal Reserve, which has lowered the appeal for emerging-market currencies, including the peso. Higher oil prices, geopolitical uncertainties, domestic inflation, and reduced foreign reserves also contributed to the peso's decline. A trader noted that the overnight US consumer price index report sparked concerns about a potential rate hike by the Federal Reserve. The Philippines' central bank, the Bangko Sentral ng Pilipinas (BSP), is entering a quiet period before its policy meeting, leaving investors anticipating guidance on their response. John Paolo Rivera, a senior research fellow at the Philippine Institute for Development Studies, stated that global uncertainty, high oil prices, and sustained dollar demand are impacting the peso's value. He emphasized that breaching 63 does not guarantee sustained depreciation, but its effects on import costs, inflation, and household purchasing power are concerning. A weaker peso increases the local cost of dollar-priced imports, potentially raising business expenses and consumer prices. Rivera advised that managing exchange rate swings while maintaining price stability and investor confidence should be a priority. Asuncion also expects the peso to remain volatile and generally weak, although easing US inflation, a less aggressive Federal Reserve, or stronger BSP policy support could help stabilize exchange rates.",
  "summary": "The peso breached the 63-to-a-dollar level yesterday, closing at a fresh record low as US inflation heated up, reinforcing expectations of prolonged high interest rates and boosting the dollar against emerging-market currencies. Data from the Bankers Association of the Philippines showed the peso closed at 63.06 to $1, weakening by 19 centavos from Wednesday’s 62.87 finish. It surpassed the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}