Philippine Peso Heads for Longest Losing Run in Over a Year

The Philippine peso is on track for its longest stretch of losses in more than a year, weighed down by a surge in global oil prices.

The currency weakened as much as 0.5% to 56.7 per dollar on Tuesday, poised for a sixth consecutive day of declines — the longest losing streak since April 2024. The peso has lost 1.6% so far in June, making it the worst-performing emerging market currency this month.