The Philippine peso plunged to a new record low of P61.42 against the US dollar during morning trading on Tuesday, April 28, 2026, breaching the previous floor set just weeks prior. The currency opened the session at P61.42:$1 before deteriorating further, registering its weakest exchange rate in recorded history. The slide confirms a sustained depreciation trend that has accelerated sharply over the past month. No triggering factor for Tuesday’s decline was specified in available reports.
The previous record low of P60.748:$1 had been set on March 31, 2026, marking what was then an unprecedented level for the Philippine currency. Tuesday’s breach surpassed that threshold within the first hours of trading, underscoring the peso’s continued vulnerability. The record fell in under four weeks.
Intraday trading data confirmed the peso moved within a range of P60.77 to P60.81 on April 28. The session low of P60.81 represented the worst single-data-point valuation the peso has recorded against the dollar. The peso’s opening rate of P60.8:$1 already sat above the previous record before the market pushed it lower still.
The back-to-back record lows — March 31 followed by April 28 — signal a pattern of successive floors being broken without significant recovery. Each breach sets a new baseline from which further depreciation becomes easier to absorb politically, even as the economic pressure on ordinary Filipinos intensifies. A weaker peso raises the cost of imports and drives up prices for goods dependent on dollar-denominated supply chains.
The Manila Times reported the development based on morning trading data, with the record confirmed before the midday session. The report attributed the figures to market trading activity but did not cite monetary authorities or Bangko Sentral ng Pilipinas officials responding to the breach. As of publication, no official government statement addressing the new record low had been included in available source material.
