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Philippine Peso Plummets Amid Rising Oil Prices and Stagflation Fears

3/10/2026

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Summary

Story summary

The Philippine peso fell to a record low of 59.5 per dollar as oil prices rise.
Analysts warn the peso could reach 61 per dollar if crude hits $100, amid oil-supply disruptions through the Strait of Hormuz.
The Philippine Stock Exchange Index dropped nearly 5% as investors fear stagflation.
The Bangko Sentral ng Pilipinas may halt rate cuts and consider raising rates to combat inflation at 2.4%, a 13-month high.

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Story summary

The Philippine peso fell to a record low of 59.5 per dollar as oil prices rise.
Analysts warn the peso could reach 61 per dollar if crude hits $100, amid oil-supply disruptions through the Strait of Hormuz.
The Philippine Stock Exchange Index dropped nearly 5% as investors fear stagflation.
The Bangko Sentral ng Pilipinas may halt rate cuts and consider raising rates to combat inflation at 2.4%, a 13-month high.