The Philippine peso slumped to a new all-time low of ₱60.30 per US dollar on Monday, March 23, 2026, as tensions in the Middle East escalated over the weekend following threats between Iran and the United States.

The local currency dropped 20 centavos from last Thursday’s close of ₱60.10, marking its weakest performance ever. Friday’s trading was suspended in observance of Eid’l Fitr, the Islamic holiday ending Ramadan.

This sharp retreat highlights mounting external pressures on the peso amid global uncertainty.