BusinessWorld E-paper
March 10, 2026
THE PHILIPPINE PESO plunged to a new record low against the dollar on Monday while the main stock benchmark recorded its steepest single-day drop since 2020 as global oil prices spiked, threatening to drive up inflation as the war in the Middle East rages on.
The local unit fell by 50 centavos to close at a new all-time low of P59.50 against the greenback from its P59 finish on Friday, data from the Bankers Association of the Philippines showed. This surpassed the previous record- low close of P59.46 logged on Jan. 15.
