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Philippine peso rebounds from record low amid global market optimism and lower oil prices.
The Philippine peso strengthened to 58.896 per US dollar on Tuesday, rebounding from a record low of 59.50, as global markets reacted to U.S. President Donald J. Trump’s remarks suggesting a potential de-escalation in Middle East tensions.
The currency gained 60.4 centavos, supported by lower oil prices and reduced dollar demand, while the PSEi rose 2.01% to 6,126.66, led by mining and services stocks.
Analysts attributed the rally to improved risk sentiment, though caution remains amid ongoing geopolitical uncertainty.
The Bangko Sentral ng Pilipinas said it stands ready to intervene if needed, as a weak peso could worsen inflation and debt costs.
El peso filipino se recuperó de un mínimo histórico en medio del optimismo del mercado global y los bajos precios del petróleo.