Peso flat vs. US dollar

The Philippine peso closed almost unchanged against the US dollar on Monday, as investors stayed on the sidelines amid the coronavirus disease 2019 outbreak (COVID-19).

The local currency lost 1 centavo to close at P50.57:$1 versus last Friday's finish of P50.56:$1.

"The peso closed almost flat today as markets continue to watch developments on the coronavirus disease," a foreign exchange trader from a local bank said in a phone interview.

In the Philippines, the Department of Health (DOH) on Monday reported that the number of persons under investigation (PUIs) for COVID-19 has gone down to 171, and 350 others have already been discharged.

The peso's depreciation on Monday came even after the Bangko Sentral ng Pilipinas (BSP) reported an increase in remittances in 2019.

Data released by the central bank showed that personal remittances rose 3.9% to $33.467 billion in 2019 from the $32.213 billion in 2018. —LDF, GMA News