# Peso's freefall

> The Philippine peso closed at P64.17 per dollar on 27 October, its first finish above P64 and its 38th record low this year. The central bank raised rates 50 basis points to 5.50 percent, a cumulative 125 basis points, without halting the currency's decline.

- Date: 2026-11-03 · published 2026-11-03T15:38:56.888Z
- Category: macro · region Philippines · magnitude low
- Page: https://feedsoft.ai/events/78018-peso-s-freefall
- Commodities: [Philippine Peso (PHP per USD)](https://feedsoft.ai/c/USDPHP.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A weakening peso raises the cost of dollar-priced imports such as wheat, fertilizer and fuel for the Philippines, which can curb feed purchasing power and demand for US and Black Sea grain and meal. Inflation near 8 percent adds pressure on local feed and livestock margins.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼
- USDPHP: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-09-21 | [U.S. grains: Wheat, soy, corn fall sharply on fund selling - Grainews](https://feedsoft.ai/events/11765-u-s-grains-wheat-soy-corn-fall-sharply-on-fund-selling-grainews.md) | -1.9% | +7.9% |
| WHEAT | 2021-05-21 | [The peso depreciates against the dollar by 2 factors - Opportimes](https://feedsoft.ai/events/47311-the-peso-depreciates-against-the-dollar-by-2-factors-opportimes.md) | -1.7% | +2.2% |
| WHEAT | 2017-05-18 | [U.S. grains: Soybeans fall as Brazilian currency dives - AgCanada](https://feedsoft.ai/events/7583-u-s-grains-soybeans-fall-as-brazilian-currency-dives-agcanada.md) | +3.0% | +1.9% |
| WHEAT | 2016-08-29 | [Fed impact on markets still in play](https://feedsoft.ai/events/10616-fed-impact-on-markets-still-in-play.md) | -3.3% | -0.5% |
| WHEAT | 2016-10-24 | [Wheat prices sink nearly three percent](https://feedsoft.ai/events/10539-wheat-prices-sink-nearly-three-percent.md) | -2.0% | -0.5% |
| CORN | 2019-06-06 | [Fitch downgrades, Moody's lowers outlook, peso falls but AMLO unfazed](https://feedsoft.ai/events/58816-fitch-downgrades-moody-s-lowers-outlook-peso-falls-but-amlo-unfazed.md) | +2.8% | +4.2% |
| CORN | 2017-01-11 | [Mexican peso hits fresh lows ahead of Trump conference](https://feedsoft.ai/events/73212-mexican-peso-hits-fresh-lows-ahead-of-trump-conference.md) | +0.0% | +1.3% |
| CORN | 2016-11-14 | [Mexico central bank seen hiking after peso's Trump tumble](https://feedsoft.ai/events/74066-mexico-central-bank-seen-hiking-after-peso-s-trump-tumble.md) | -3.6% | -0.7% |

## Sources

- tribune.net.ph: https://tribune.net.ph/2026/11/03/pesos-freefall

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.