Philippine peso slips to ₱63.25 against US dollar
An economist linked the decline to stronger-than-expected US inflation and expectations of further Federal Reserve interest rate increases.
The Philippine peso ended trading on November 11, 2026 at ₱63.25 per US dollar, losing 34 centavos from its previous close of ₱62.91 as demand for the US currency increased.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., linked the decline to US inflation figures that exceeded forecasts and strengthened expectations of further Federal Reserve interest rate increases. US Bureau of Labor Statistics data showed inflation rose by 0.4%, against economists’ forecast of 0.3%.
Ricafort also cited expectations for three additional rate increases of 0.25 percentage points each by June 2027, alongside hawkish comments from some Federal Reserve officials.
Oil prices remained an important influence on the peso, Ricafort said. He said cheaper crude could support the currency, as could expected conversions of dollars into pesos by overseas Filipino workers for Christmas spending. Exporters, business process outsourcing firms and other institutions earning dollars were also expected to convert funds for Christmas bonuses and 13th-month pay during November and December.
