The peso fell to a fresh record-low close of P62.590 per US dollar on Friday, down 7 centavos, or 0.11 percent, from Thursday’s P62.520, marking its fifth record low in six trading sessions.

The local currency opened at P62.43 and strengthened to an intraday low of P62.335 before weakening to as much as P62.65. The BAP weighted average was P62.446, compared with P62.494 previously. Trading volume reached $1.52 billion, slightly below Thursday’s $1.55 billion.

The peso weakened even as the dollar index fell to around 99 and the US 10-year Treasury yield declined to roughly 4.74 to 4.76 percent.

Domestic inflation also remained a concern. Headline inflation eased to 6.1 percent in August from 6.2 percent in July, remaining significantly higher than the end-2025 level. MUFG raised its US dollar-peso outlook because of higher oil prices and persistent US yields. It expects the peso to remain vulnerable in the near term.

Brent crude was around $95.52 a barrel on Friday, up about 7.6 percent for the week, while West Texas Intermediate was around $91.36, up more than 10 percent. Renewed US-Iran hostilities and restrictions around the Strait of Hormuz have kept oil prices elevated.

Higher oil prices increase demand for dollars and raise import costs, adding to inflationary pressures. Markets are also awaiting the US August employment report and next week’s consumer price index data. Strong US inflation could revive expectations of a Federal Reserve rate hike and push Treasury yields and the dollar higher.

Meanwhile, the Philippine Stock Exchange Index (PSEi) gained 0.35 percent, or 21.18 points, to 6,090.60. Trading remained subdued, with total value turnover falling to P3.86 billion from P5.24 billion the previous session.

Mining and Oil led the sectors with a 0.75-percent gain, followed by Holding Firms at 0.49 percent, Property at 0.37 percent, Services at 0.36 percent and Financials at 0.12 percent. Industrials was nearly flat, slipping 0.005 percent.

Ayala Land gained 1.87 percent to P15.28, Atlas Consolidated Mining rose 1.42 percent to P21.40, SM Investments advanced 1.26 percent to P562, Ayala Corp. added 0.60 percent to P500, BDO climbed 0.50 percent to P120.90 and ICTSI increased 0.43 percent to P934.50. Philex Mining slipped 0.52 percent to P11.44, while RL Commercial REIT fell 2.57 percent.

Asian markets also advanced after Federal Reserve Governor Christopher Waller said he would favor keeping rates unchanged this month if incoming inflation data confirm continued disinflation. Japan’s Nikkei gained 1.4 percent, South Korea’s KOSPI rose 2 percent and Chinese blue chips climbed about 4 percent. Spot gold was around $4,469 an ounce after rising almost 2 percent on Thursday.