There will be no trading on the Philippine currency market on Friday after heavy monsoon rains prompted suspension of work in government offices including the central bank’s money market operations, the Bankers Association of the Philippines said.

The southwest monsoon enhanced by Super Typhoon Saola and severe tropical storm Haikui is expected to bring significant amount of rains in most of the main Philippine island of Luzon until the weekend, the weather bureau said, warning of floods and landslides.

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Philippine FX Market Closed Sept. 1, Bankers’ Group Says