The peso exchange rate on 22 September opened at 58.10, further weakened at 58.25, recovered at 58.00, with the latest at 58.22.

The Philippine currency closed at its lowest-ever value at 58 per dollar on 21 September, as other regional currencies pulled back amid a looming new US policy rate increase.

The peso traded at an average of 57.89 on a volume of $1.05115 billion.