The Philippine peso opened the shortened trading week at a new record low as broad strength in the US dollar pressured the currency.
On Tuesday, the peso opened at 62.25 per dollar, dropping to a low of 62.35, exceeding the previous record of 62.27 from Aug. 28.
Local markets were closed on Monday due to a public holiday.
On Friday, the Philippine peso fell to a record low, dropping below 62 per dollar for the first time, as rising oil prices and a stronger US dollar outweighed the effects of the central bank’s recent interest-rate hike