Peso rebounds from historic ₱63 low as PSEi gains 119 points, October 16, 2026

The Philippine peso gained nearly eight centavos to snap its drop from an all-time low, while local shares advanced over 110 points to extend gains for a second day.

The Philippine peso gained nearly 8 centavos to close at ₱62.985 against the US dollar on Friday, October 16, 2026, rebounding from its record low of ₱63.060 set in the previous session.

The local currency touched an intraday low of ₱63.230, around 8 centavos weaker than the previous session’s trough of ₱63.150, as the peso remained close to the ₱63 mark.

Equities extend gains for second straight session

The Philippine Stock Exchange index (PSEi) also advanced, rising 119.53 points, or 2.11%, to close at 5,782.70, and extending its gains for a second straight session. The benchmark continued to advance past the 5,700 mark after falling close to 5,600 on Wednesday.

Friday’s session brought a positive finish to a turbulent week across local asset classes. The broad-based rally provided a brief reprieve for both foreign exchange and equities markets, helping local stocks recover lost ground while keeping the peso stabilized just below its new record low against the US dollar.