Philippine Peso Weakness Due to Strong Dollar, Central Bank Says.

The Philippine peso's recent weakness is attributed to a strong US dollar, according to the central bank, following a record low for the local currency. The peso fell to 59 against the dollar but recovered slightly to 58.84, outperforming other emerging Asian currencies. This decline is part of a broader trend in Asian currencies affected by geopolitical tensions and a strengthening dollar post-Donald Trump's election win. [Extracted from the article]