Peso hits six-month low at P58 per dollar
The Philippine peso weakened to P58 per dollar on Thursday as the US dollar strengthened amid reduced expectations of an interest rate cut by the Federal Reserve.
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Also known as OFW
Overseas Filipino Workers (OFWs) are migrant workers who contribute significantly to the Philippines' economy by sending remittances and promoting the country's image globally. The Department of Migrant Workers has implemented reforms, including faster services at airports and digital documentation through eGovPH, to support OFWs more effectively. President Ferdinand R. Marcos Jr. and First Lady Liza Araneta-Marcos have emphasized the importance of protecting OFWs by signing anti-trafficking pacts and visiting distressed workers abroad.
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Last updated at August 2, 2025.