Peso Plunges to Record Low as U.S.-Iran War Hits Philippines

The Philippine peso has fallen to an all-time low, dragged down by surging energy prices linked to the U.S.-Iran conflict. The currency’s slide mirrors similar struggles across the region, as the war continues to disrupt global markets. Higher oil costs directly pressure the Philippines, which relies heavily on imported fuel. This pushes up transportation and electricity expenses, weakening the peso further against the dollar. Analysts say the record low reflects growing economic strain, not just for Manila but for neighboring countries facing the same shockwaves. The central bank has not yet announced new intervention measures. For now, ordinary Filipinos feel the pinch at the pump and in monthly bills. The peso’s fall raises the cost of imports, from food to machinery, adding to inflation worries. The government has not issued an official statement, but the trend signals tougher months ahead if energy prices stay high. The conflict’s next moves will likely determine whether the peso stabilizes or sinks deeper.