Stocks climb, peso weakens to 58:$1

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February 21, 2026 | 12:00am

MANILA, Philippines — The local stock market extended its winning streak to a third session, while the peso fell back to the 58 to $1 level as investors continued to digest the Bangko Sentral ng Pilipinas (BSP)’s recent rate cut.

The benchmark Philippine Stock Exchange index (PSEi) climbed by 0.9 percent or 57.97 points to finish the week at 6,465.12, while the broader All Shares index rose by 0.66 percent or 23.36 points to 3,570.68.

“The local market advanced for the day, driven by the BSP’s latest policy rate cut,” Philstocks Financial research manager Japhet Tantiangco said.

Tantiangco, however, noted that trading remained tepid, with total turnover value improving slightly to P5.58 billion from the previous day’s P5.26 billion.

Foreigners were net buyers, posting net inflows of P351.89 million.

All counters ended in the green, led by financials and mining and oil, which gained 1.68 percent and 1.11 percent, respectively.

Advancers edged decliners, 107 to 93, while 64 issues were unchanged.

Based on data from the Bankers Association of the Philippines, the local currency weakened by 15.4 centavos to close at 58.15 against the dollar from Thursday’s 57.996 finish.

The peso opened at 58.051, which was also its intraday best, before sliding to an intraday low of 58.15 by the close.

RCBC chief economist Michael Ricafort said the dollar-peso exchange rate corrected slightly higher for a second straight trading day, calling it a “healthy slight upward correction” after the local currency strengthened for five straight sessions.