Peso nears ₱60:$1; Maynilad, Manila Water to raise rates due to weak peso

Surging oil prices stemming from the ongoing war in the Middle East continued to injure the peso, causing it to shed 35 centavos against the United States (US) dollar on Friday, March 13, ending the week at a new record-low close of ₱59.735. Read more

Meanwhile, millions of residents in Metro Manila face higher water costs starting next month as the industry regulator approved tariff hikes for both of the region’s main concessionaires to account for fluctuations in foreign exchange. Read more