The US Dollar – Philippine Peso exchange rate has been going down dramatically over the past year.
I remember the price to be somewhere around P45 last year and just recently, it has breached the P40 mark.
For OFWs, exporters, bloggers, virtual assistants and many others who earn in U.S. dollars – this is bad news.
While Philippine peso earners, ironically, couldn’t help but ask why they’re not feeling the supposedly good effects of the strengthening local currency such as the lowering of basic commodity prices.
In my opinion, the only people who have actually been enjoying the past few months are the investors. Ask anyone who has UITF, mutual fund and stock market investments and they’ll show you double digit increases in their portfolio’s value.
COntinue Reading at Ready To Be Rich
