MANILA - The Philippine peso fell to a new all-time low against the US dollar for the third straight trading day, data from the Bankers Association of the Philippines showed.

The peso closed at P57 to a dollar on Sept.6, after closing at P56.999 on Monday and P56.77 last Friday.

Bangko Sentral ng Pilipinas Governor Felipe Medalla earlier said the currency depreciation is happening globally due to the strong dollar.

Meanwhile, National Statistician Dennis Mapa said the government is closely monitoring the currency as the exchange rate could affect the import of fuel products which has an impact on local pump prices and other commodities.

Inflation in August slightly eased to 6.3 percent due to slower increase in transport costs and food prices, government data showed.

Several analysts have said the local currency could gain support from seasonal increase in remittances and export receipts during the last quarter of the year.

More details to follow.

• New all-time low: Peso weakens further to P56.999 per dollar on Sept. 5
• Philippine peso plunges to all-time low of P56.77 vs US dollar
• Seasonal OFW remittances seen to strengthen peso temporarily: economist

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