The Philippine peso weakened to a record intraday low of ₱63.15 against the U.S. dollar on Thursday, Oct. 15, marking the first time the exchange rate crossed ₱63.
The peso reached ₱63.15 per dollar at about 11 a.m., setting a new record for its weakest intraday value.
The exchange rate opened at ₱62.83 per dollar, stronger than Wednesday’s close of ₱62.87. The peso continued to weaken during the morning session, reaching ₱63.15.
The intraday low surpassed the previous record of ₱62.925 per dollar, recorded on Sept. 15.
The move past ₱63 marked a new milestone in the peso’s decline against the U.S. currency. However, the intraday rate did not determine whether the peso would also close at a record low.
The closing exchange rate was expected to be released at about 4 p.m. Thursday. That figure would show whether the peso also finished the trading day at a new record low.
No closing rate was available in the report. The peso had opened stronger than its previous close before losing ground against the dollar during the morning.
The intraday level remained the weakest recorded for the peso, while the market awaited the closing rate for the day.
