Inquirer file photo
The Philippine peso on Thursday, Nov. 21, plummeted to a record-low of 59 to a dollar, a level not seen in over two years, as the strong dollar, bolstered by the US presidential elections, continued to impact other currencies.
The peso dropped 9 centavos from its previous day’s close, matching the rate last recorded on October 17, 2022.
READ: Peso sinks to 58.9 per $1, lowest in over 2 years
Meanwhile, a total of $842.68 billion worth of funds were traded today.
Some analysts have suggested that a rate-cutting pause by the Bangko Sentral ng Pilipinas is possible should the peso remain under pressure.
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