Philippine peso finishes at ₱62.87 per dollar after second daily fall
The closing exchange rate was three centavos short of the peso's record low, set on October 8, 2026.
A seven-centavo fall left the Philippine peso at ₱62.87 per US$1 when trading closed on October 14, 2026. It was the currency's second successive daily decline, following a previous session close of ₱62.80 per US$1.
The peso finished three centavos from its weakest recorded exchange rate against the US dollar. That record, ₱62.90 per US$1, was reached on October 8, 2026.
During the October 14 session, the currency began trading at ₱62.70 per US$1. Its strongest level was ₱62.65 per US$1, while the weakest rate recorded during trading was ₱62.88 per US$1.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., attributed the decline to a resurgence of geopolitical tensions in the Middle East, specifically recent Houthi attacks in Saudi Arabia. In his commentary, he said those attacks could worsen the conflict and leave the recovery of the region's oil shipments uncertain.
