Philippine peso slides past 62 against dollar as intervention risk grows

Prima Wirayani / Bloomberg08-28 03:36

The Philippine peso weakened past 62 per dollar on Friday, breaching a level some analysts had flagged as potentially prompting authorities to step in to support the currency. (Aug 28): The Philippine...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2662856092?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-08-28 03:36","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2662856092","market":"hk","top_or_hot":-1,"title":"Philippine peso slides past 62 against dollar as intervention risk grows","media":"Prima Wirayani / Bloomberg","content":"<div>\n<p>The Philippine peso weakened past 62 per dollar on Friday, breaching a level some analysts had flagged as potentially prompting authorities to step in to support the currency.\n(Aug 28): The Philippine...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/currencies/philippine-peso-slides-past-62-against-dollar-intervention-risk-grows?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Philippine peso slides past 62 against dollar as intervention risk grows</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPhilippine peso slides past 62 against dollar as intervention risk grows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-28 03:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/currencies/philippine-peso-slides-past-62-against-dollar-intervention-risk-grows?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Prima Wirayani / Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Philippine peso weakened past 62 per dollar on Friday, breaching a level some analysts had flagged as potentially prompting authorities to step in to support the currency.\n(Aug 28): The Philippine...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/currencies/philippine-peso-slides-past-62-against-dollar-intervention-risk-grows?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BSP","symbol_name":"Bending Spoons S.p.A.","start_time":0,"source_url":"https://www.theedgesingapore.com/news/currencies/philippine-peso-slides-past-62-against-dollar-intervention-risk-grows?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2662856092","we_media_id":null,"thumbnails":[],"rights":{"source":"edge_highlight","url":"https://www.theedgesingapore.com/news/currencies/philippine-peso-slides-past-62-against-dollar-intervention-risk-grows?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2662856092","pubTimestamp":1787859366,"columns":[],"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"The Philippine peso weakened past 62 per dollar on Friday, breaching a level some analysts had flagged as potentially prompting authorities to step in to support the currency.\n","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BSP":"Bending Spoons S.p.A.","BK4023":"应用软件","ASEA":"Global X FTSE Southeast Asia ETF","EPHE":"Ishares Msci Philippines Investa"},"translate_title":"随着干预风险增加，菲律宾比索兑美元汇率跌破 62","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EPHE":1.5,"BSP":1,"ASEA":1.5},"content_text":"The Philippine peso weakened past 62 per dollar on Friday, breaching a level some analysts had flagged as potentially prompting authorities to step in to support the currency.\n(Aug 28): The Philippine peso weakened past 62 per dollar on Friday, breaching a level some analysts had flagged as potentially prompting authorities to step in to support the currency.\nThe peso fell as much as 0.6% to a record low of 62.25, surpassing its previous trough of 61.995 reached earlier this month. Higher crude prices have added to the pressure, threatening to widen the Philippines' current-account deficit as the country relies on imports for almost all its oil needs.\nThe move puts traders on alert for possible action from Bangko Sentral ng Pilipinas (BSP) after Sumitomo Mitsui Banking Corp and Rizal Commercial Banking Corp flagged 62 per dollar as a key level. The central bank said on Aug 19 that it \"intervenes to address disorderly market conditions and smooth extreme volatility, especially when these can accelerate inflation.\"\nStill, BSP governor Eli Remolona signalled on Wednesday that policymakers won't defend a specific exchange rate and will instead focus on smoothing sharp swings in the currency.\n\nThe peso's decline was fueled by the Philippines' larger-than-expected trade deficit number, uncertainty about whether the BSP will tighten policy much further and external factors such as elevated oil prices, said Michael Wan, senior currency analyst at MUFG Bank Ltd.\nThe Philippine's trade deficit widened to US$5.97 billion in July from a revised US$5.5 billion shortfall in June, according to official data released on Friday. The figure is higher than economists' estimate for a US$5.15 billion deficit.\n\"BSP will likely continue their communication around tightening policy further moving forward, and we could also see some FX intervention to cap USD/PHP FX volatility,\" Wan said.\nThe peso has declined more than 5% against the dollar this year, making it one of Asia's worst-performing currencies.\nUploaded by Felyx Teoh","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.48.0","shortVersion":"4.48.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2662856092","isCrawlerRequest":true}