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MANILA, Philippines — The Philippine peso fell to a fresh record low on Friday, dragged down by a resurgent US dollar as higher oil prices, driven by renewed fighting in the Middle East, sent investors toward safe-haven assets while new trade tensions also deepened uncertainty in global markets.
The peso ended the week at 61.847 per dollar, down 9.7 centavos from its previous close of 61.75, which was also the currency’s previous record low.
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The local currency weakened as far as 61.85 during the session before trimming some losses. Trading activity was subdued, with turnover falling to $969.38 million from $1.5 billion in the previous session.
