Philippine peso slides through March 2026, ends month at weakest level on record

Currency breaks ₱60 barrier mid-month and posts nine all-time lows before closing at ₱60.748.

The Philippine peso started March at ₱58.20 against the US dollar on March 2 and ended the month at ₱60.748 on March 31, marking a sharp depreciation of about 2.55 pesos over the period.

The month was defined by sustained downward pressure and repeated record lows. After hovering within the ₱58–₱59 range in the first week, the peso steadily weakened, breaching the ₱60 level for the first time on March 19. From that point, the currency remained in the ₱60 territory, setting new historic lows multiple times in the succeeding trading sessions.

In total, the peso hit a record low nine times in March, highlighting the intensity of the selloff and the volatility in the foreign exchange market. Brief rebounds were seen mid-month, but these proved short-lived as external pressures and market sentiment continued to weigh on the currency.

A weaker peso typically raises the cost of imports, including fuel and food, which can add to inflationary pressures. At the same time, it can make Philippine exports more competitive abroad. The movements seen this month reflect a mix of global economic uncertainty, a stronger US dollar and heightened geopolitical tensions, all of which influenced trading behavior.

March ultimately closed with the peso at its weakest level on record, capping a month marked by volatility, rapid declines, and repeated breaks of historic thresholds.

 

 

The Philippine peso closed March 2026 at its weakest level on record, ₱60.748, after a volatile month that saw the currency breach the ₱60 threshold amid global geopolitical tensions.

 

 

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