Peso slips back to 56 vs. $1

The Philippine peso retreated to the 56-per-dollar level on Friday, as heightened geopolitical tensions in the Middle East stoked demand for safe-haven assets.

The local currency capped the week at 56.21 against the greenback, shedding 32.5 centavos from its previous finish. This was the peso’s weakest closing since April 28, 2025, when the local unit ended at 56.42.

A trader said the US dollar advanced on Friday after Israel attacked Iran, triggering Iranian retaliation.