Peso crashes past 60 per dollar, a record lowMANILA, Philippines — The Philippine peso breached the record low 60-per-dollar level on Thursday, March 19, as rising oil prices and a stronger US dollar continue to squeeze the currency. Oil prices appear to have been the main drag on the peso. The Bangko Sentral ng Pilipinas said yesterday it has intervened in the foreign exchange market to prevent the peso from slipping even further against the dollar, according to a Bloomberg report. BSP Governor Eli Remolona Jr. has warned that oil prices sustained above $100 a barrel could force a rate hike. President Ferdinand Marcos Jr. said in January he did not want the peso to reach 60 per dollar.

Source: Philippine Star March 19, 2026 11:47 UTC