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Manila Bulletin devider Business devider Banking & Finance devider Peso stages comeback to ₱56 level

Peso stages comeback to ₱56 level

Published Jun 25, 2025 05:08 pm
After showing signs of recovery the previous day, the Philippine peso returned to the ₱56 level as investor confidence grew over the tentative Iran-Israel ceasefire, while the United States (US) dollar slipped to test its recent lows.
Data from the Bankers Association of the Philippines (BAP) showed that the peso regained its strength on Wednesday, June 25, closing at ₱56.711 against the US dollar from ₱57.16 last Tuesday.
The local currency rose to an intraday high of ₱56.65 and then fell to a low of ₱56.81 after opening at ₱56.80. Total trading volume dropped to $1.553 billion from Tuesday's $2.008 billion.
“Markets seem to be trusting the ceasefire between Iran and Israel, and the dollar is back to testing its lows,” Dutch financial giant ING said.
Rizal Commercial Banking Corp. chief economist Michael Ricafort also said the peso’s gains came after the tentative ceasefire announcement which also pulled global crude oil prices back to near two-week lows at around $66 per barrel — wiping out all the hikes since the conflict began.
He said this oil price drop, alongside a weaker dollar, could help ease fuel prices in the Philippines and reduce inflation pressures.

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Peso US dollar exchange rate Bankers Association of the Philippines (BAP)
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