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Manila Bulletin devider Business devider Banking & Finance devider Peso retreats to ₱57 after three-day rally despite upbeat sentiment from new US trade deal

Peso retreats to ₱57 after three-day rally despite upbeat sentiment from new US trade deal

Published Jul 25, 2025 04:53 pm

At A Glance

  • After experiencing a three-day appreciation against the United States (US) dollar, the Philippine peso weakened again by shedding almost half-a-peso on Friday, July 25 despite the market fresh optimism over the latest trade deal with the US.
After experiencing a three-day appreciation streak against the United States (US) dollar, the Philippine peso weakened again by shedding almost half-a-peso on Friday, July 25, despite the fresh market optimism over the latest trade deal with the US. 
According to the Bankers Association of the Philippines (BAP), the peso returned to the weaker ₱57:$1 level, closing the week at ₱57.11 from ₱56.65 last Thursday.
The local currency fell to an intraday low of ₱57.165 and reached a high of ₱56.75, which was also its opening rate.
Total trading volume rose to $1.644 billion from Thursday’s $1.37 billion.
“Asian currencies will likely continue to find support from a cyclical downturn in the US dollar,” Lloyd Chan, senior currency analyst at MUFG Global Markets Research, said in a July 24 commentary—a day before the peso's 46-centavo decline.
According to Chan, the weakening US dollar was due to “persistent” political uncertainty in the US and “growing tensions between President [Donald] Trump and Fed [US Federal Reserve] Chair [Jerome] Powell.”
Singapore-based United Overseas Bank (UOB) also noted of Asian forex markets’ optimism over potential trade deals with the trade giant US. Last Thursday, the peso was the region’s best performer, UOB said.

Related Tags

Bankers Association of the Philippines (BAP) Philippine peso United States (US) dollar MUFG Bank Ltd. United Overseas Bank (UOB)
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