P/$ rate closes at P48.020/$1

The peso closed  higher  at  P48.020  to the US dollar Monday, the first trading day of the year  from  P48.023 on December  29, 2020.  

The weighted  average rate depreciated  to  P48.022  from  P48.021.

Total volume amounted  to $873.75 million, according to the Bankers Association of the Philippines.