MANILA, Philippines — Stock and foreign exchange trading were suspended on Wednesday
MANILA, Philippines — Stock and foreign exchange trading were suspended on Wednesday as heavy rain and floods brought by a typhoon-enhanced southwest monsoon led to the cancellation of classes and the closure of most government offices in Metro Manila.
In a Facebook post, the Bangko Sentral ng Pilipinas (BSP) said that trading in the US dollar and Philippine peso, as well as monetary operations, would be halted for the day.
The central bank said that it would continue to accept bulk cash deposits up to three in the afternoon and service bulk cash withdrawals until 4 p.m.
PhilPaSSplus, the BSP peso real time gross settlement system, will be operational up to 5:45 p.m.
The Philippine Stock Exchange also posted on Facebook that there would be no trading for the day.
The stock market closed 0.61 percent higher, or by 41.07 points, to 6,753.12 on Monday.
The peso, meanwhile, slipped by five and a half centavos to P58.435 against the dollar at the start of the trading week.
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