It was a marginal improvement from the day prior.
On Wednesday, December 10, the exchange rate for the Philippine Peso and the US Dollar closed at P59.21 to $1.
This was a slight improvement from its close on Tuesday, December 9, when it closed at P59.22 to $1, which is an all-time low for the peso.
According to industry experts, the dip is attributed to the expectations that the Bangko Sentral Ng Pilipinas (BSP) will be cutting its interest rates this week.
Coupled with the uncertainty over the US Federal Reserves’ monetary policy, the effect was also seen in stock markets across Asia.
Although, the Philippine Stock Exchange rose by 27.42 points (0.46%) on Tuesday and closed at 5,976.64 points. But on Wednesday, it saw a slight dip to 5,959.94.
Prior to its Tuesday slump, the previous record low for the Peso was recorded on November 12, 2025, when the exchange closed P59.17 to 1 US Dollar.