The Philippine peso continued to weaken against the US dollar on Wednesday, breaching the ₱64:$1 level during intraday trading and reaching a record low of ₱64.18:$1, surpassing the previous low of ₱64.17:$1 recorded on Tuesday. The local currency opened at ₱64.08:$1 and traded as high as ₱64:$1 during the session. Analysts attributed the peso’s continued depreciation to rising global oil prices driven by ongoing tensions in the Middle East.