Peso falls to nearly 17-year low

By Mayvelin U. Caraballo

Jul 08, 2022 12:25 am

THE Philippine peso had its worst day in over 17 years, falling to P56 to the US dollar on Thursday.

The local currency decreased 39 centavos from the P55.67 closing value of the previous day to end at $56.06:$1. It hasn't been this soft since Sept. 27, 2005 when it closed at 56.29:$1.

A money changing kiosk at SM Megamall displayed the recent exchange rate of the Philippine Peso to the US Dollar on Tuesday, July 5, 2022. The peso had its worst day in over 17 years as it plunged to P56:$1 on Thursday, July 7, 2022. PHOTO BY AARON RONQUILLO

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