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PESO CLOSES AT ₱63.25 PER DOLLAR
The peso closed Wednesday, November 11, at ₱63.25 to the US dollar, weakening by 34 centavos from Tuesday’s ₱62.91, GMA reported. Manila Standard also reported the ₱63.25 close. This is a completed trading-day figure, not a guaranteed rate at a bank, money changer or remittance counter this morning.
RCBC chief economist Michael Ricafort linked the move to higher-than-expected US inflation and expectations of further US interest-rate increases. That is his explanation of the market move. It does not tell a household what rate will be available when its next transfer is processed.
For someone buying dollars, a higher peso-per-dollar rate means spending more pesos for the same dollar amount. For someone converting dollars into pesos, it can mean a larger peso amount before fees. Whether a family actually receives more depends on the provider’s offered rate and charges, as well as how many dollars are sent.
As a simple calculation, a 34-centavo change is ₱34 for US$100 before charges. The market move does not itself guarantee that difference in a remittance payout; providers’ quotes must be compared on their own terms.
WHAT TO WATCH
The next trading close and the actual rate, total charge and recipient amount quoted for your transaction. A headline exchange rate is useful context, but the amount available to the family is the figure to budget around.