The dirham-peso exchange rate on Wednesday, September 12, has increased to Php14.68 as peso continues to weaken reaching Php54 against US dollar, according to the Bangko Sentral ng Pilipinas bulletin.
Today’s dirham-peso rate is a slight increase from Php14.66 recorded on Tuesday, September 11.
Earlier, UAE remittance companies told The Filipino Times that the peso-dirham exchange rate, which has continuously been moving up since last year, is headed to Php15, citing different factors.
One of which is the US’ move to hike interests resulting to a struggling peso.
BSP reported that peso has reached the Php54 mark after closing at P54.13 against US dollar, its lowest in nearly 13 years.
The last time peso hit P54 was in 2005, according to BSP’s data.