UMVA has learned that the Philippine peso slipped to a new all‑time low against the dollar, gripping markets with the shadow of Middle East turmoil.
The currency closed flat at P61.75 per dollar, a record low that matched Monday’s finish, leaving traders staring at a stubborn plateau.
Morning trading saw the peso bounce to a high of P61.55, only to collapse back to the same P61.75 at close, as uncertainty over a potential U.S.–Iran deal weighed heavily.
Dollar volumes surged to $1.21 billion, up from $1.001 billion the day before, signaling frantic activity behind the numbers.
Rumors swirled that the Bangko Sentral ng Pilipinas might step in to steady the market, a possibility echoed by the chief economist of Rizal Commercial Banking Corp.
“The peso closed unchanged amid lingering uncertainty over a potential U.S.-Iran deal,” a trader whispered in a Viber message, hinting at a fragile equilibrium.
Looking ahead, the trader predicts a brief rebound on Wednesday, with the peso trading between P61.50 and P61.75 as profit takers exit the market.
Meanwhile, the central bank’s own expectations suggest a narrow band from P61.60 to P61.80, reinforcing the sense that every movement could be a sign of deeper intervention.
