Peso falls to new record low in July before late-month recovery

The Philippine peso sank to a historic low of ₱61.853 against the US dollar before rebounding in the final trading week to end the month at ₱61.24.

The Philippine peso endured another volatile month in July 2026, briefly recovering early in the period before weakening sharply in the second half and hitting a new historic low against the US dollar.

The peso started July at ₱61.621 and initially gained ground, strengthening to as much as ₱61.415 on July 3. The recovery continued in mid-July, with the currency extending its winning streak to three trading sessions by July 17 and closing at ₱61.587.

However, renewed pressure pushed the peso lower in the latter half of the month. The currency matched its previous historic low of ₱61.75 on July 22 and July 23, before falling further to a new record low of ₱61.853 on July 24.

The peso staged a recovery in the final week of July, rebounding from its weakest level on record and moving farther away from the ₱62 mark. It closed the month at ₱61.24 on July 31, gaining 61.3 centavos from its record low and posting a stronger finish compared with the start of the month.

Overall, July was marked by sharp swings between recovery attempts and renewed weakness, with the peso setting a fresh historic low before ending the month on a recovery note.

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