Peso closes at $1=P56.02

The Philippine peso closed weaker against the United States dollar at P56.02 on Monday, 5 December, from P55.74 the previous session.

Philippine peso started the day at P55.74 and traded between P56.05 and P55.72 bands.

The average level for the day stood at P55.82.

The volume also lowered to $1.15 billion on Monday from $1.28 billion on Friday.

The local currency shed 28 centavos during Monday's closing after it marginally recovered to P55 levels during the previous sessions.