Peso sinks to new record low of ₱62.40 as stocks pull off 6,000 rebound, September 1, 2026

The peso hit a fresh historic low against the US dollar for a third consecutive session on Tuesday, overshadowing a sharp recovery in local equities that pushed the PSEi back above 6,000.

The Philippine peso tumbled to another historic low on Tuesday, September 1, 2026, keeping the local currency under severe pressure even as stock market equities posted a strong technical rebound.

The peso dropped nearly 14 centavos to close at ₱62.40 against the greenback, breaking the previous record of ₱62.265 set in the prior trading session. The local currency touched an intraday low of ₱62.40, marking a third consecutive session of historic lows and remaining firmly above the ₱62 threshold.

PSEi reclaims 6,000 mark

In contrast to currency weakness, the Philippine Stock Exchange index (PSEi) rebounded by 137.56 points, or 2.31%, to close at 6,093.89 on Tuesday, recovering sharply from Monday’s losses.

The index regained the key 6,000 level after falling below the threshold yesterday, snapping a three-day losing streak and signaling renewed buying interest following the recent market sell-off.

Tuesday’s trading highlighted lingering foreign exchange pressures on the Philippine peso as it pushed deeper into uncharted territory, even as bargain-hunting in equities drove a brief market recovery above the 6,000 level.

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