Summary
The Philippine peso hits a new record low against the US dollar amid geopolitical instability, while fuel prices are expected to rise significantly.
Highlights
Record Low for Philippine Peso00:00:00
The Philippine peso closed at a historic low of 62.68 against the US dollar, driven by the dollar's status as a safe-haven asset amidst escalating Middle East tensions.
Impact on Local Fuel Prices00:00:30
Heightened global oil prices, which are expected to exceed $100 per barrel, will lead to significant domestic fuel hikes, with gasoline potentially increasing by five pesos per liter.