When Iran closed the Strait of Hormuz on February 28, 2026, it did not just disrupt oil markets. It directly threatened the food supply of the countries that depend on the Strait for their imports. Gulf Cooperation Council states rely on the Strait for over 80% of their caloric intake.
The Brazilian real hit 5.19 per US dollar this week, marking its weakest level in two months as market dynamics shifted unexpectedly. The currency weakness reflects changing monetary policy expectations as broad dollar strength prevails amid heightened tensions in the Middle East, with concerns intensifying after a US helicopter
In March 2026, the Philippine peso closed at its worst level in history, P59.87 to the US dollar, with an intraday low of P59.95. The same week, the Bangko Sentral ng Pilipinas released data showing cash remittances from overseas Filipino workers reached an all-time high for 2025,