The Philippine peso on Monday, 19 December, improved to P55.41 against the US dollar from P55.85 the previous session.

The local currency opened the day strong at P55.5 compared to P55.85 last Friday.

It also traded between P55.5 and P55.4. The average level for the day stood at P55.439.

Volume declined to $625.25 million on Monday from $902.27 last Friday.