Philippines Closes Schools & Suspends Forex Trading Due to Storm Trami

The Philippines has paused government operations and closed schools. The central bank has also banned foreign currency trade in response to Tropical Storm Trami, which is threatening the east coast of the country's major island of Luzon.

Trami's center was last estimated to be 180 km (112 miles) off the central town of Virac in Catanduanes province, according to state weather forecaster Pag-asa's 5 a.m. (2100 GMT) advisory.

Pag-asa warned that coastal areas on the path of the typhoon will experience severe gusts, heavy rain, and storm surges.

The Philippines closes schools due to tropical storm Trami

As tropical storm Trami tracks toward the Philippines, it has brought torrential rainfall, prompting local governments to evacuate inhabitants in its path. The typhoon, which had gusts of 85 kph (53 mph), also shut down government offices and schools on the major island of Luzon.

Furthermore, on Wednesday, the Philippine central bank banned currency trading and monetary activities for the day. However, the president's office stated that agencies involved in disaster response and crucial services will stay open.