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Forex trading still on hold; stock market plunges

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Forex News

Trading,Still,On

THE stock market reopened, but foreign exchange trading remained suspended on Thursday, a day after heavy rains and floods brought Metro Manila to a standstill.

In a morning Facebook post, the Bangko Sentral ng Pilipinas said that trading in the US dollar and Philippine peso, as well as other monetary operations, would again be halted for the day.The processing of currency-related transactions and PhilPaSSplus operations, which was allowed on Wednesday, was also suspended.'Banks can tap the Cash Service Alliance for their currency needs,' the BSP said.All services will resume on Friday, the central bank announced later in the day.

research and engagement officer Mikhail Plopenio said the drop was due to an overnight sell-off on Wall Street 'amid dismal Q2 corporate results from the tech sector.''Concerns over the economic damages to the country caused by super typhoon Carina weighed on the bourse,' he added.'Lastly, investors digested the government's latest fiscal position data, which posted a deficit of P209.10 billion.'Regina Capital Development Corp.

 

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