ABS-CBN
Peso weakens to record-low P59.17
The Philippine peso reached a new record low of 59.17 against the US dollar on Wednesday, November 12, 2025.
This is lower than its previous close of P59.13 on October 28 and marks the peso as one of the worst performers in Southeast Asia this month.
A weaker peso can increase remittances from overseas Filipino workers, but it also poses a risk of higher import costs and renewed inflation.
A former Bangko Sentral ng Pilipinas (BSP) official suggested that bad governance is also scaring off investors, affecting the peso's value.
The peso has been trading near the 58 to 59 range due to downside risks to economic growth, governance concerns, and weather disruptions.
The country's foreign debt increased in October as the peso continued to weaken, making foreign debts more expensive to pay.
The BSP has indicated it will allow market forces to determine the exchange rate and will not intervene to manage daily fluctuations.
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