# Peso rebounds to 62.97 per dollar as Ricafort points to cheaper oil

> The Philippine peso strengthened to 62.97 per dollar after the US elections, and an economist attributed the rebound mainly to falling global oil prices. The report also said local fuel-price cuts were expected in the coming days, while the stock market gained.

- Date: 2026-11-07 · published 2026-11-08T06:11:39.480Z
- Category: macro · region Philippines · magnitude low
- Page: https://feedsoft.ai/events/87074-peso-rebounds-to-62-97-per-dollar-as-ricafort-points-to-cheaper-oil
- Commodities: [Philippine Peso (PHP per USD)](https://feedsoft.ai/c/USDPHP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower oil prices can ease fuel and transport costs and reduce pressure on the peso, while a stronger peso makes dollar-priced imports cheaper. Both factors point to lower import-cost pressure, although the fuel-price cuts had not yet taken effect.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDPHP: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-11-17 | [Commodities slump as dollar rebounds](https://feedsoft.ai/events/38596-commodities-slump-as-dollar-rebounds.md) | -9.0% | -11.3% |
| WTI | 2023-10-30 | [Canadian dollar rebounds as safe-haven flows ease](https://feedsoft.ai/events/33848-canadian-dollar-rebounds-as-safe-haven-flows-ease.md) | -5.7% | -13.1% |
| WTI | 2026-06-24 | [Oil curve points to near-term glut as Hormuz flows rise \| Reuters](https://feedsoft.ai/events/18985-oil-curve-points-to-near-term-glut-as-hormuz-flows-rise-reuters.md) | -5.3% | +15.5% |
| WTI | 2017-06-21 | [Colombia's peso slides against US dollar as global oil prices tumble \| The City Paper Bogotá](https://feedsoft.ai/events/70797-colombia-s-peso-slides-against-us-dollar-as-global-oil-prices-tumble-the-city.md) | +2.2% | +8.8% |
| WTI | 2026-07-27 | [Canadian dollar hits near two-week low as oil prices drop \| Reuters](https://feedsoft.ai/events/18591-canadian-dollar-hits-near-two-week-low-as-oil-prices-drop-reuters.md) | -3.3% | -2.6% |
| BRENT | 2026-06-24 | [Oil curve points to near-term glut as Hormuz flows rise \| Reuters](https://feedsoft.ai/events/18985-oil-curve-points-to-near-term-glut-as-hormuz-flows-rise-reuters.md) | -6.2% | +21.0% |
| BRENT | 2022-12-06 | [Ringgit ends lower against US dollar as oil prices decline \| Malay Mail](https://feedsoft.ai/events/38501-ringgit-ends-lower-against-us-dollar-as-oil-prices-decline-malay-mail.md) | -6.1% | -7.8% |
| BRENT | 2026-09-18 | [Ringgit opens higher against US dollar as oil prices ease \| The Star](https://feedsoft.ai/events/17729-ringgit-opens-higher-against-us-dollar-as-oil-prices-ease-the-star.md) | -0.3% | +5.0% |

## Sources

- imperyomanila.com: https://imperyomanila.com/2026/11/07/news/peso-rebounds-to-62-97-per-dollar-as-ricafort-points-to-cheaper-oil-52e8e905b7df9064

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