???

Taiwan
December 10, 2007 10:10pm CST
What does lower dollar mean? Dec 11, 1 peso + US$41.something. Does it mean better economy? Anyone who knows something about it? For us working abroad, it means lower remittance equivalent.
1 person likes this
5 responses
@seared (261)
• China
11 Dec 07
Sorry, I don't know either.But it is not bothering me.because I DON'T use dollar^-^ why do you worry about it?by the way, where do you work?I mean which country?
1 person likes this
@mensab (4203)
• Philippines
11 Dec 07
a stronger currency does not mean better economy. we know that japan and italy have lower currencies than ours, and yet they have better per capita income than ours. i think per capita income is a better measurement of economy. it is the capability of an individual to spend based on his/her income. i will agree to you that a stronger peso against the dollar means lower remittance value for OFWs. this is not a good news. this is the complcation of global economy with various currencies.
1 person likes this
@j27366 (294)
• Philippines
28 Jan 08
if you are a dollar earner, definitely it's not better economy because the value of your hard-earned dollars become lesser in amount when converted to pesos. but if you are an importer, you definitely save a lot of your pesos because you'll pay less to buy dollars. if you are an exporter, you'll feel the crunch if you use imported raw materials. but, if you use locally purchased raw materials for your finished products for export, i don't think you'll be hurt so much. it really depends on the situation.
• Philippines
19 Dec 07
Supposed to be better economy but it doesn't appear to be so. Dollar earners earn lesser in peso while we who are not dollar earners benefit nothing also because instead of prices of prime commodities going down, things become more expensive and so only the capitalists again benefit from the strong peso.
@rsa101 (27845)
• Philippines
13 Dec 07
For OFWs it is indeed bad news when dollar exchange would plunged down. I think it is expected to go down since its X-mas season and many OFWs usually sent their money at this time and dollar demand in the market will also go down as a result of sudden influx of dollars. I think also it also does depend too with US economy if their economy is going strong then it usually goes up vs our currency. Another factor that affects dollar is when there is turmoil in the country and so far all threats was swiftly stopped and did not prosper.