There are headlines we read and quickly scroll past, but the news of the Philippine peso sinking to a record ₱59.22 per US dollar hits differently. It is now a snapshot of our daily lives quietly getting heavier. Every centavo that drops feels like another layer of burden placed on ordinary Filipinos, especially those already struggling to make ends meet. And yet, this now feels almost normal, doesn’t it? A troubling thought by itself.
The peso began the year at ₱55 to a dollar, a rate that already made people uneasy. Month after month, it slipped further, dragged down by stubbornly high inflation and a dollar strengthening like it’s on steroids. A huge part of the problem stems from the US Federal Reserve’s persistently high interest rates, which pull global capital toward the US like a magnet. Investors flock to where returns are higher, leaving emerging economies like ours dealing with the aftermath: a weaker currency, rising import costs, and increased pressure on both households and businesses.
But while it’s easy to point fingers at external factors, we cannot ignore the cracks in our own foundations. Inflation has remained high for far too long, squeezing consumers and shaking confidence. When your economy is already limping, even slight global shifts become earthquakes.
What frustrates me most is how predictable this is. We see the peso weaken, officials rush to offer reassurance, and the cycle repeats. The truth is that too many Filipinos are forced to bear the consequences of policies they have no control over. Prices go up, loans get tighter, savings lose value. Meanwhile, those with dollar reserves or foreign investments hardly feel the tremors at all.
The peso dropping to ₱59.22 is an alarm blaring at full volume. How many more record lows must we hit before we confront the deeper issues instead of treating symptoms? Because at this point, it’s not just the peso that’s losing value; it’s our patience, our trust, and our economic resilience slowly eroding.
