i think it is safe to say that filipino online earners are...

@allen0187 (26160)
Philippines
November 28, 2012 2:18am CST
adversely affected by the stronger philippine peso against the US dollar. last night, it was featured in several news programs that the philippine peso is at an all time high trading at P40.87 against the US dollar. the is the highest it has been for the past couple of years. of course, there are other sectors that are affected by this. families of OFWs who solely rely on remittances will have a smaller amount of money to live on. exporters will also feel the pinch especially since their income is lower while production costs remain the same. so my fellow filipino mylotters, how would you cope with this recent development? how would you manage the higher exchange rate? will you be working doubly hard? will you be taking additional online paying programs? please feel free to chime in. cheers and happy mylotting!!!
2 people like this
14 responses
@rsa101 (13337)
• Philippines
29 Nov 12
Well yes economist say there is the good side and the bad side of this. The good side is we are given this chance to level up our economy by having this high rates growth in many sectors in the business world. Meaning the business sector will have to have a greater opportunity to grow their business having the peso on the stronger side vs. the dollar. But true enough there are sectors affected since it just means exporters will have a hard time selling this since our price would be a bt pricey for our foreign buyers. It could also affect tourism since they pay in $ then it just means they will pay more if they want to stay here in the Philippines. Although we are not yet feeling this growth, economist project that if we can sustain this growth it will still take 7 more years before we can feel this growth. This spurt of economic growth will only be felt by those in the business sector but not the common citizens who conducts their daily labor day by day.
1 person likes this
@romzee (938)
• Philippines
28 Nov 12
I will be holding my dollar earning online in paypal rather than sending to my local bank till next year because December is the usual time of the year where dollar is at its weakest in term of dollar to peso exchange because of the influx of dollars coming from the remittances of our overseas foreign workers. Also there is nothing to be happy about because in truth the economy is not growing. The influx of short term dollar dumped and invested in our stock, bonds and other financial papers because of weak US economy and other European economies is the real culprit in the distortion on our dollar - peso exchange rate. Have a great day. Ciao!
@voracious (624)
• Philippines
10 Dec 12
If Dollar value drops it means that our economy is doing great but there's a chance that it will go up again.
@jureathome (5363)
• Philippines
30 Nov 12
Yes, those working online and earning dollars will really be affected badly. I once worked for a call center who sells publishing services internationaly, and the sales agents earn incentives in dollars. So, the fluctuation on peso value really affects their net pay. I was a sales agent there once, and at that time dollar was equal to 55pesos.
@irene66 (1671)
• Philippines
29 Nov 12
With the dollar exchange these days, I think the Philippine economy is getting better. This is to the advantage of the country however to the disadvantage of those receiving dollars. I agree with you that the ofws are the most affected ones. I feel for them too. Anyway 40 is not that bad. it is still a acceptable
• Australia
29 Nov 12
we all know that everything is increased except of the salary that we got..even if we need to work double times still de same because everything now is we need to pay tax,and now tax is a big issue,they might increase more next year..now australian dollar is a bit higher than US dollar but the currency everyday is always change,so we have nothing to do about it..:)
@Angelpink (4023)
• Philippines
29 Nov 12
Nothing will change just same i will be active here. I enjoyed a lot in here. Nothing eats my vacant time but Mylot. It is worthy anyway ! Happy Wednesday !
@RawBill1 (8542)
• Gold Coast, Australia
28 Nov 12
Yes, this had affected us here in Australia too. If I make payout here of say $10, then I am only really getting around $9.60 as the Aussie dollar is higher than the US dollar these days. I transferred $50 USD out of my paypal account the other day and only received $46 AUD in my account. But that is alright as my main income is from my business which imports goods in USD so we get things a lot cheaper than we used to a few years ago. But shipping costs and taxes have also risen in this time which offset most of the extra profits that we make from a higher Aussie dollar!
@aseretdd (13712)
• Philippines
28 Nov 12
OH my... when i first started my online earning thingy... 1 us was equal to like 45 php... and i read somewhere that it might go to around 35 php... well a lot of OFW's would surely be angry at this... and some would eventually stay in our country for good if this happens... In my case... i am not dependent on the dollar... i try to save my mylot earnings to pay for hotel accomodation... and they usually charge in usd... but i do hope there is a balance so that no sector in our country would be affected negatively...
@adnileb (5017)
• Philippines
28 Nov 12
It' okay for me if the peso would increase its value BUT the prices of other stuffs aren't going down. There's no sense so I'm not good for it. The exchange rate the time I shopped online was Php39.++ and it was a big loss for my earnings here.
@mrsuniega (789)
• Philippines
28 Nov 12
I think the bottom line here is that we should be happy because Philippines economy will become strong. though a lot of us is worrying about little income we should be praying that the products that we buy will be sold at low price. Strong economy shall draw the market price lower, should it be like that?
@aabuda (1729)
• Philippines
28 Nov 12
I think we should not focus on ourselves. Let us be happy that the Philippine economy is developing and as a result, the peso will fight with the dollar...and this means that we have a strong economy to boast with our investors. On my side, I will just double my effort in order to gain what I have to earn in all of my online jobs.
@beamer88 (4268)
• Philippines
28 Nov 12
I'll still keep doing my regular load of online work, but I'll hold on to my dollars for now. I'm also wouldn't transfer the money from my Paypal account to my bank. I'll wait and see first. Usually the peso strengthens against the US dollar during this time of the year. One reason why is because of the large volume of remittances by our OFWs.
@joliefille (3697)
• Philippines
28 Nov 12
For me I would double my effort and then maybe set up a little business locally, that way I am not so adversely affected by the weakening dollar. But one of the things I hate is I don't ever feel the prices of commodities are going down a bit, enough to somehow testify that the peso is strengthening. It is sick.