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Manila Bulletin devider Business devider Banking & Finance devider Peso slips to ₱57 amid rising US inflation, tariff concerns

Peso slips to ₱57 amid rising US inflation, tariff concerns

Published Jul 16, 2025 04:59 pm
The Philippine peso depreciated further to its weakest in nearly one month, after slipping back to the ₱57 level against the United States (US) dollar on Friday last week due the higher US inflation.
The local currency dropped to the ₱57:$1 level on Wednesday, July 17, closing at ₱57.085 from ₱56.73 last Tuesday. The peso’s strength on Wednesday was the lowest in more than three weeks since June 24’s level at P57.16:$1.
The local currency hit an intraday low of ₱57.095 against the US dollar and a high of ₱56.85, which was also its opening rate, according to the Bankers Association of the Philippines (BAP).
Total trading volume rose to $1.576 billion from Tuesday’s $1.278 billion.
RCBC Chief Economist Michael Ricafort saiud the peso's weakening was partly attributed to the US dollar strengthening against major global currencies prompted by the release of US Consumer Price Index (CPI) data for June 2025, which showed inflation at 2.7 percent year-on-year, the fastest in four months since February 2025.
Also contributing to the peso's decline, Ricafort said were concerns over President Donald Trump’s threats of higher US import tariffs, which could lead to increased US inflation and potentially slow down future US Federal Reserve rate cuts.
Domestically, the peso's weakness was also influenced by the Philippine Stock Exchange Composite Index (PSEi) declining for the second straight trading day, falling by 121.99 points or 1.9 percent to close at 6,337.48, near three-week lows.

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