Philippine peso on it's highest
By diogz22
@diogz22 (516)
Philippines
July 26, 2011 4:36am CST
Do you believe this? The Philippine peso has reached a three-year high! Our currency is currently withstanding financial issues of US and Europe. Imagine that even if US's economy is currently on it's downtrend our Philippine Peso shines.
But what do you think is the effect of the strong peso to common members of our community. Perhaps OFW's would most likely be disappointed since the dollars they are earning will likely yield a smaller amount in peso as compared before. But what else will be the effect? Will it lessen the Fares in buses and jeepneys? Will it affect the prices of gasoline?
What do you think?
6 responses
@visavis (5934)
• Philippines
26 Jul 11
Your correct this strong pesos definitely we are lost. I do hope any changes before we sending our money to our family... All commodities here are going up specially this month of Ramadan next week. all kinds of wise spending we already applied but no effect. If there is any chance to work their in the Philippines with good salary I will do but as news nothing...
@louievill (28851)
• Philippines
26 Jul 11
the strength of the peso could be caused by a weakened dollar and does not necessarily reflect the health of our economy, you see Obama and their congress has a few days on whether or not to default on debt, so this in my opinion weakens the dollar against the peso. Yes, a very weak dollar would affect our OFWs as well as those in the export biz
@diogz22 (516)
• Philippines
26 Jul 11
The weakened dollar could be one of the reason's why the peso is relatively strong but the peak of the strength was before even the US default news went public. So I think we are starting to realize that we could boost our economy internally and that more and more Filipino's started to become financially literate.
@louievill (28851)
• Philippines
26 Jul 11
I also pray for the strength of the Philippine economy, we may not notice that at first but it would come gradually I hope, then our people can already earn here what they earn abroad, we can gradually stop people from going to dangerous places especially our women and sometimes minors who risk entering other countries illegaly through our back doors and are always at risk and subject to all kinds of abuse, government wastes money getting them back and they give our country a bad reputation including all of us
I pity them but the practice must be stopped, and it will stop if they make money here, I do not think these people like what they are doing but they are simply " kapit sa patalim" ( desperately clinging to a sword or a dagger)
I pity them but the practice must be stopped, and it will stop if they make money here, I do not think these people like what they are doing but they are simply " kapit sa patalim" ( desperately clinging to a sword or a dagger)
@eileenleyva (27562)
• Philippines
27 Jul 11
The peso getting stronger is a good sign that the economy is getting stronger. If the purchasing power of the peso goes higher, that means that we are on our way to progress.
@diogz22 (516)
• Philippines
27 Jul 11
Yup Eileen the peso against dollar is now @ 1:42.12 imagine that it is at its all time high in 3 years. Foreign investors also is pouring in and start to get interest on some of the resources available in the philippines. We are in deed on our way to progress but it is still pretty slow.
1 person likes this
@LetranKnight25 (33121)
• Philippines
26 Jul 11
The only good news here is that when ever I would consider buying skype credits at a lot more cheap price. that's probably why I should be more active in terms of getting pursuing a higher performance for my pay out. it's hard to believe I am feeling lazy to mylot that much. as for OFW's and their relatives, they should tighten their belts
@diogz22 (516)
• Philippines
26 Jul 11
So your saying that you're still lazy at your current rate LK? Yah not only the OFW's relative, it should be everyone must tighten their belts since inflation is still around the corner and has not yet reached it's peaked. Once inflation peaks for sure increase in commodities is inevitable.
@SIMPLYD (90722)
• Philippines
27 Jul 11
I am happy because our peso is getting stronger. It means that our purchasing power when it comes to dollar conversion has become stronger, meaning we could buy US Dollar in lesser peso amount.
However, it's sad because the exchange rate of our dollar pay at Paypal will go down also and will still keep going down , if our peso keep getting stronger. 
@michaelv26 (30)
• Philippines
27 Jul 11
It's kinda ironic because as the Peso become stronger, the oil price is till increasing. Our economy is becoming stronger but prices of our common needs are still going up.
