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Peso cools back to P58:$1 level after BSP rate cut
The Philippine peso closed at P58.99:$1 on Thursday, December 11, 2025, regaining ground from its near-record low.
This slight strengthening followed a 25-basis point rate cut by the Bangko Sentral ng Pilipinas (BSP), with BSP Governor Eli Remolona signaling that this could be the last cut in the current easing cycle.
Rizal Commercial Banking Corp. chief economist Michael Ricafort noted that the BSP governor's hawkish signals provided support for the peso.
The peso's recovery was also bolstered by market anticipation of increased overseas Filipino worker (OFW) remittances during the Christmas season, which typically leads to currency conversion.
The central bank's policy-setting body, the Monetary Board, delivered its fifth consecutive monetary easing.
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