The Philippine Central Bank, or Bangko Sentral ng Pilipinas (BSP), said on Monday there would be no peso-U.S. dollar trading at the Philippine Dealing System, while the Philippine Stock Exchange (PSE) also said it would be suspended for the day.

BSP and PSE did not give specific reasons for the cancellation of their respective dealings, although the government suspended classes in all levels in Metro Manila and surrounding provinces Monday because of bad weather brought about by typhoon Kaemi.

All government offices in Metro Manila, except for health and security services, were also suspended Monday.

Philippine President Gloria Macapagal Arroyo is due to deliver her annual State of the Nation Address to the Congress Monday afternoon, amid tight security mounted by 16,000 policemen and soldiers to guard against thousands of protesters and possible infiltration of New People's Army (NPA) guerrillas into the capital region.

Five people were seriously wounded when a mini-bus hit a landmine in southern Philippines Monday morning. Police blamed NPA for the attack.

Source: Xinhua