PH peso sinks back to 57:$1 as US Fed hold boosts dollar
Provided by Philippine Daily Inquirer.
MANILA, Philippines -- The Philippine peso retreated back to the 57:$1 level at the opening of trading on Thursday as the US dollar gained strength.
The greenback firmed up after the US Federal Reserve kept key interest rates unchanged. Meanwhile, the Bangko Sentral ng Pilipinas (BSP) is widely expected to ease its policy stance later today.
READ: US Fed keeps interest rates unchanged in face of Trump criticism
The local currency opened the trading session at 57.21 against the greenback, weaker than the previous day’s closing of 56.98.
The last time the peso closed at the 57 territory was on April 14, 2025, when the local unit finished at 57.08.
/rwd
(2025/06/19-09:56)
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