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Dec 22, 2017 @ 13:20

No peso trading, check clearing on Dec. 26 & Jan. 2 — BSP


Financial markets will be enjoying the holiday break too.

There will be no trading, clearing and settlement operations on Dec. 26, 2017 and Jan. 2, 2018, the Bangko Sentral ng Pilipinas (BSP) announced on Friday, Dec. 22.

The central bank issued Memorandum 2017-037 to formally announce the market holiday on these dates, in keeping with President Rodrigo Duterte’s decision to keep the post-Christmas and post-New Year days a non-working day for government offices.

This means that there won’t be changes to the peso-dollar exchange rate on these dates coming from the rate set the previous Friday.

Checks coursed through banks would also not be cleared until the next working day. The Philippine Stock Exchange will also stay closed from the long weekend, and will reopen by Wednesday.

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