The Philippine peso depreciates against the US dollar, reaching a near low as it closes at P57. Global geopolitical tensions and concerns about a wider regional conflict contribute to the depreciation.
MANILA, Philippines — The Philippine peso continued its downward trend against the US dollar on Tuesday, reaching a near low as it closed at P57.
As the peso weakens, overseas Filipino workers transferring money to their families in the Philippines benefit from increased conversions of their dollars.A decline in the peso value against the dollar also contributes to an increase in the Philippines' debt. The Metro Pacific Tollways Corp. has scored a state-owned firm for dragging one of its units to court without going through...
Philippine Peso US Dollar Depreciation Global Geopolitical Tensions Regional Conflict
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