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Peso gains after Trump calls for help in Strait of Hormuz
Business Mirror
|March 18, 2026
THE Philippine peso slightly strengthened on Tuesday after its four-day losing streak against the dollar after US President Donald Trump's call for countries to cooperate in reopening the Strait of Hormuz—a critical oil chokepoint.
Data from the Bankers’ Association of the Philippines (BAP) showed the peso closed at P59.8 per $1 on Tuesday.
This is 7 centavos stronger than its previous finish of P59.87 on Monday. The local currency hit a new all-time low on Monday.
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