The Philippine peso weakened to a fresh record low on Monday, closing at 61.75 per dollar.
Data from the Bankers Association of the Philippines showed the currency slipped 2.9 centavos from Friday’s close of 61.721.
It opened at 61.69, briefly strengthened to 61.64, then slid to an intraday and closing low of 61.75.
Trading volume declined about 16.4% to $1 billion from $1.2 billion previously.
The peso’s latest record comes as the dollar remains broadly supported and elevated oil prices continue to pressure import costs and foreign exchange demand.
The local currency is nearing the 62-per-dollar level, with market attention focused on global oil trends, US interest-rate expectations and domestic sentiment.
