Financial markets close on July 31 for Eid'l Adha holiday

Philippine financial markets are closed Friday in observance of Eid’l Adha or the Muslim Feast of Sacrifice.

Trading is suspended at Philippine Stock Exchange and spot transactions at the Bankers Association of the Philippines. Trading will resume on Monday, August 3.

Eid’l Adha 2020 was declared a regular holiday by President Rodrigo Duterte through Proclamation 985. 

Eid'l Adha celebrates the willingness of the Prophet Ibrahim (Abraham) to sacrifice his son Ishmael in submission to Allah's command, before he was stopped by Allah.

The Philippine peso, on Thursday, closed stronger by 4 centavos to P49.15:$1 from Wednesday’s finish at 49.18.

Meanwhile, the PSEi shed 37.82 points or 0.63% to 5,928.45 at the closing bell as investors stayed on the sidelines ahead of the announcement of new quarantine rules after July 31.

Metro Manila will remain under the general community quarantine (GCQ) despite the continued spike in COVID-19 cases, Duterte announced. 

Apart from Metro Manila, Bulacan, Batangas, Cavite, Laguna, Rizal, Cebu City, Lapu-Lapu City, Mandaue City, Minglanilla and Consolacion towns in Cebu province, and Zamboanga City will also be under GCQ from August 1 to 15.

The rest of the Philippines will be under modified general community quarantine (MGCQ). —LBG, GMA News