Inquirer
Peso sinks back to 57-level as global markets plunge on Trump tariffs
The Philippine peso weakened to the ₱57 level against the US dollar on Monday, April 7, after a brief dip into the stronger ₱56 range last Friday.
The peso slid by over half a peso, closing at ₱57.43 from ₱56.88 on Friday, with a trading volume of $2.17 billion.
This depreciation is attributed to concerns over new tariffs imposed by US President Donald Trump, which may negatively impact the US and global economies.
Economists suggest these tariffs raise fears of a potential economic recession, influencing currency markets.
Despite the recent weakening, the peso remains close to its highest level in six months.
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