(March 16): The Philippine peso weakened towards the key psychological level of 60 pesos per dollar, prompting the central bank to intervene to support the currency. “Since the dollar is down, I assume some intervention can push the peso back down below 60,” Remolona said in response to a Bloomberg query. Before the escalation of the Iran conflict, government and central bank officials had already flagged the 60-per-dollar level as a key threshold. President Ferdinand Marcos Jr does not want the peso to weaken to 60 against the dollar, his press officer said in January. A day later, Remolona signalled that the central bank could “probably” allow the currency to reach that level if there were no sharp market moves.

Source: The Edge Markets March 16, 2026 06:44 UTC