Peso breaches 63.6:$1 level

MANILA, Philippines — The Philippine peso fell to a record low on Friday as concerns about the domestic inflation outlook overshadowed an aggressive interest rate hike by the central bank.

The currency weakened 9.5 centavos to close at 63.615 against the dollar, according to data from the Bankers Association of the Philippines.

READ: BSP unleashes jumbo rate hike vs inflation

That broke Thursday’s record closing low of 63.52.

The peso also touched an intraday low of 63.62, surpassing the previous record of 63.545.

READ: Peso extends losses, falls past 63.5:$1

Trading volume eased to $1.3 billion from $1.7 billion in the previous session. /pai