The Philippine peso closed at P61.75:$1 for the second straight trading day, matching Monday’s all-time low which surpassed the previous record of P61.721:$1 posted last Friday, May 15, 2026.

“The US dollar/peso exchange rate was unchanged amid possible intervention/smoothening of market volatility at 61.70 levels recently,” Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said in a mobile message.

Bangko Sentral ng Pilipinas (BSP) governor Eli Remolona Jr. has maintained that the central bank does not target a specific level but instead moves when big swings occur.

Ricafort also noted that Thursday’s session was affected by US President Donald Trump’s remarks that he had paused a planned attack against Iran to allow for negotiations to take place to end the ongoing conflict in the Middle East.

Moving forward, Ricafort said the peo-dollar exchange rate could range at P61.60:$1 to P61.80:$1 levels.