MANILA -- The Philippine peso has seen a dramatic slide and is trading near an all-time low, its weakness driven not just by familiar macroeconomic pressures such as a resilient U.S. dollar but by a homegrown vulnerability: a sprawling infrastructure corruption scandal that has caused enough economic damage to compel the Philippine central bank to continue its easing cycle.
A corruption scandal, interest rate cuts by the central bank, and the U.S. economy's strength are combining to push the Philippine peso to historic lows against the dollar. (Nikkei montage/Source photos by Reuters and Getty Images)
Trading Asia
Philippines' corruption crisis sends peso to all-time low
Aggressive monetary easing also weighs on currency
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