Manila: The Philippine stock market closed nearly unchanged while the peso strengthened on Monday. The Philippine Stock Exchange index (PSEi) shed 0.03 percent to close at 6,095.97, while the All Shares index fell by 0.14 percent to 3,655.

According to Philippines News Agency, the muted start of Philippine shares was influenced by the reserve requirement ratio (RRR) cut decision by the Bangko Sentral ng Pilipinas (BSP), which was counterbalanced by a sell-off in the US market last Friday. Regina Capital Development Corp. head of sales Luis Limlingan highlighted these factors as contributing to the market’s performance.

Meanwhile, the peso showed strength against the US dollar, closing at 57.80, an improvement from Friday’s 57.94 finish. The currency opened at 57.9 and traded within the range of 57.77 to 57.95 throughout the day. The weighted average exchange rate for the day was recorded at 57.86.

Trading volume also saw a decrease, with the total volume of trade falling to USD1.17 billion from the previous USD1.33 billion.