The Philippine peso fell past the ₱62.90 level to set another all-time low against the dollar, while local shares dropped over 120 points to retreat near 5,600.
The Philippine peso sank to a new record low, weakening by 15 centavos to close at ₱62.90 against the US dollar on Thursday, October 8, 2026, reversing Wednesday’s brief steadying.
The local currency touched an intraday low of ₱62.90, weakening by 6 centavos compared to the previous session’s trough of ₱62.84, pushing deeper into uncharted ₱62 territory.
Equities tumble back toward 5,600 level
Meanwhile, the Philippine Stock Exchange index (PSEi) dropped 126.30 points, or 2.20%, to close at 5,610.39, wiping out Wednesday’s recovery. The index fell back below the 5,700 level and moved closer to the 5,600 mark.
Thursday’s session brought renewed pressure across local asset classes as market sentiment turned sharply negative. The PSEi suffered its deepest single-day decline of the week to surrender its recent gains, while the peso continued its downward slide to hit a fresh historical trough against the greenback.
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