Philippine peso falls to 18-month low against dollar

Central bank's 'less hawkish' stance leaves currency to slide

20240521 Philippine peso

The Philippine peso has been on a downtrend recently, as the U.S. Federal Reserve holds off on interest rate cuts and the Philippine central bank adopts an easier monetary stance.  © Reuters

MASAYUKI YUDA, Nikkei staff writer

TOKYO -- The Philippine peso fell to its lowest point versus the dollar since November 2022, as the country's central bank shifts away from a hawkish monetary policy.

The peso slipped to 58.13 per dollar on Tuesday, falling past the 57.95 mark it hit April 25.

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