GMA News
Peso stays at P59:$1 level
The Philippine peso remained near its record low, closing at P59.21:$1 on Wednesday, December 10, 2025, slightly stronger than Tuesday's P59.22:$1.
This stability comes amid expectations of upcoming interest rate cuts from both the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve.
Rizal Commercial Banking Corp. chief economist Michael Ricafort noted the movements preceded widely expected 0.25 basis point rate cuts from the Fed on December 10 and the BSP on December 11, 2025.
The peso's slight improvement was also supported by President Ferdinand Marcos Jr.'s appeal to Congress to prioritize key reform measures.
Additionally, the typical increase in overseas Filipino workers' remittances during the Christmas season, leading to conversion to pesos, is expected to boost the local currency.
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