Story perspectives

Philippine Peso Hits Record Low Amid Corruption Scandal

10/29/2025

Summary

Story summary

On Oct. 28, 2025, the Philippine peso fell to a record low of P59.13 per dollar.
The Bangko Sentral ng Pilipinas (BSP) said the exchange rate would be market-driven, with interventions only to curb inflation.
The depreciation reflects concerns about slower growth linked to a flood-control corruption scandal and expectations of further easing.
Remittances and inflows support the peso, while investor confidence remains shaky as foreign funds pull from local equities.

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Story summary

On Oct. 28, 2025, the Philippine peso fell to a record low of P59.13 per dollar.
The Bangko Sentral ng Pilipinas (BSP) said the exchange rate would be market-driven, with interventions only to curb inflation.
The depreciation reflects concerns about slower growth linked to a flood-control corruption scandal and expectations of further easing.
Remittances and inflows support the peso, while investor confidence remains shaky as foreign funds pull from local equities.