SINGAPORE -- The Philippine peso and the South Korea won fell Monday as investors fretted about the impact of high oil prices, while most other Asian currencies moved in tight ranges.

The Philippine peso fell by 0.3 percent to 44.93 per dollar -- its lowest level since October 2007 -- after oil hit a record high on Friday of $142.99 per barrel and stayed close to that level on Monday.

"I think today's movement is just a follow through on reaction from last Friday, with a lot of market players getting hit last week on the volatility (of the currency)," a trader in Manila said.

"Towards the end of last Friday a lot of the market players just scrambled to buy back the dollar/peso," he said.

Traders said they expected the peso to move towards 45 per dollar in the near-term and were watching for intervention from authorities to support the currency.

The Philippine central bank was suspected to have intervened several times last week.

The US dollar fell to a three-week low against the euro, weighed down by high oil prices, data showing US consumer sentiment hit a 28-year low, and a dip in the Dow Jones industrial average.

The South Korean won slid by almost half a percent to 1,046.25 from its previous close of 1,041.5 as investors sold the won on fears over the impact of inflation on growth.

Crude oil rose $1.00 to $141.21 per barrel on Monday, slightly shy of Friday's record high of $143.00 a barrel.

The yuan hit a post-revaluation high at 6.8570 per dollar after the central bank set a stronger mid-point that reflected its stance of using the currency to fight inflation.

The Singapore dollar rose 0.2 percent to 1.3602 per US dollar, its highest level in nearly a month.

"Probably investors think the central bank will let the Singapore dollar strengthen slowly with inflation still at highs," a Singapore-based trader said.