Currency swings between brief rebounds and fresh lows, briefly touching ₱60 before ending month near weakest levels on record
The Philippine peso moved through a volatile May session, repeatedly slipping into fresh record lows before ending the month with only a modest cushion from its weakest levels.
The currency opened at ₱61.565 on May 4 and quickly traded within a tight but uneasy range, alternating between short-lived rebounds and renewed declines. Early strength briefly pulled the peso back toward the ₱60 level, with May 7 marking one of its firmest closes at ₱60.42.
That momentum proved short-lived as the peso returned above ₱61 in the following sessions. By mid-month, weakness deepened, with the currency breaking successive record lows on May 14 (₱61.64), May 15 (₱61.721), and May 18 (₱61.75), setting a new floor for the month.
Trading remained fragile through the third week, with the peso hovering near its weakest range. A brief pause came on May 21 at ₱61.581, but it failed to hold as subsequent sessions swung back toward weaker territory.
Late-May trading showed mixed movement, with short rebounds on May 25 (₱61.465) and May 30 (₱61.485) offset by intermittent dips in between. Markets were closed on May 27 for Eid al-Adha.
By month-end, the peso was still anchored close to its weakest band, reflecting persistent external headwinds and uneven investor sentiment, with no sustained recovery emerging through the final stretch of trading.
