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Peso sinks as BSP chief says weak growth may lead to another rate cut
Business World Philippines
|December 04, 2025
THE PESO slid to a near two-week low against the dollar on Wednesday as the Bangko Sentral ng Pilipinas (BSP) chief said they expect economic growth to miss the government's target this year, which could give them a reason to cut rates again next week.
The local unit closed at P58.92 per dollar, sinking by 39.9 centavos from its P58.521 finish on Tuesday, Bankers Association of the Philippines data showed.
This was the peso’s weakest close in nearly two weeks or since it finished at P59.065 on Nov. 20.
The peso opened Wednesday session just slightly weaker at P58.55 against the dollar. It reached an intraday high of P58.50, while its worst showing was at P58.925 against the greenback.
Dollars exchanged climbed to $1.41 billion from $1.49 billion on Tuesday.
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