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Peso weakens the most among Asian currencies
Manila Bulletin
|June 19 2025
The Philippine peso has depreciated the most among regional currencies against the safe haven United States (US) dollar so far since Israel attacked Iran and heightened global oil price risks.
A June 18 report by Japanese financial giant MUFG Bank Ltd. showed that since June 13, the peso weakened versus the greenback by 1.4 percent, outpacing the depreciation of the Japanese yen, South Korean won, Indian rupee, Singaporean dollar, Malaysian ringgit, Thai baht, Indonesian rupiah, Chinese yuan in offshore markets (CNH), and Vietnamese dong.
MUFG Global Markets Research senior currency analyst Lloyd Chan said this broad weakening across most Asian currencies was “driven by risk aversion and rising oil prices.”
“Oil prices have surged by up to 10 percent, while a prolonged conflict in the Middle East could further hurt global risk sentiment,” Chan said.
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