The Philippine peso fell to a fresh record closing low on Thursday, as domestic political tensions added pressure to an already weakening currency buffeted by a strong US dollar.

The local currency weakened by 26 centavos to settle at 61.64 per dollar, according to data from the Bankers Association of the Philippines, surpassing its previous all-time closing low of 61.567 set on April 29.

The peso posted an intraday low of 61.66 before recovering slightly. Trading volume eased to $1.6 billion from $1.8 billion a day earlier.