00:00The Philippine peso again falls to a new all-time closing low of 63 pesos and 36 centavos against
00:07the US dollar on Wednesday, October 21. This is weaker by 27 centavos from its previous close of
00:1463 pesos and 9 centavos on Tuesday. The local currency reached as low as 63 pesos and 37 centavos
00:22during intraday trading. This comes a day before the Banco Central ng Pilipinas is set to announce
00:27its latest interest rate decision. Economists expect a hike of at least 25 basis points to help
00:34keep inflation in check. The peso faces pressure from elevated global oil prices and a stronger US
00:40dollar with expectations of further monetary tightening by the US Federal Reserve. The
00:45continued weakness of the peso could make imported fuel and other dollar-priced goods even more expensive.
