The Philippine peso fell to a new record low and moved closer to the PHP 63 per US dollar level, according to Metrobank Wealth Insights. The bank reported the development on Tuesday, September 15, 2026.
Coverage of the move put the currency's weakest point in the PHP 62.90 range, with BusinessMirror citing a record low of PHP 62.86. BusinessWorld Online reported that the peso later rebounded after touching that range.
Manila Bulletin attributed the pressure on the currency to oil costs and El Niño conditions weighing on the Philippines' external balances. BusinessMirror reported market speculation that the peso could reach PHP 64 by the end of the year.
The peso's slide comes as it approaches the 63-per-dollar threshold, a level it has not previously reached. The reports did not specify the exact intraday low beyond the PHP 62.86 figure cited by BusinessMirror.
What to watch next: whether the peso breaks through the PHP 63 mark, and whether oil prices and El Niño conditions continue to strain the country's external accounts in the months ahead.