Philippine peso rises for third session, closes at ₱63.47 per US dollar
The currency gained 27 centavos from its October 30 close, with an economist citing presidential assurances and holiday-related dollar conversions.
The Philippine peso finished trading on November 3, 2026 at ₱63.47 per US$1, marking its third successive session of gains. It strengthened by 27 centavos compared with the ₱63.74 per US$1 closing rate on October 30, 2026.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., attributed much of the currency’s recovery to assurances from President Ferdinand Marcos Jr. about the exchange rate since October 28, 2026.
After the peso reached a record low against the dollar, Marcos urged the public not to panic. He said his administration was making every effort to defend the currency and had the tools and means needed to do so.
Ricafort also pointed to dollar conversions during the extended holiday weekend for All Saints’ Day and All Souls’ Day. He said some overseas Filipino workers and their families exchanged dollars for pesos to pay for trips to their hometowns and other destinations within the Philippines.
