The drop of American dollars

So why does the US dollar gets weak? is it because of the recent elections?

This is a saddening fact. . I thought we can be happy already but it seems that it is an additional burden for all of us.

It's getting weaker because American economy is slowing down... Global financial crisis from 2008 to 2009 was cause by the collapse of US economy. The ballooning US credits and the decline in relative attractiveness of US investments cause dollar to lose its value. The recent election has nothing to do with this. The decline of dollar is purely economical and not political.

I agree with CaptAlbert. We should withdraw our earnings wisely before the peso goes down to 30.

Its better to withdraw it as soon as possible before it gets much lower. US Dollars is predicted to be 30 pesos in few years.

Its means only one thing. we need to work much harder than before, I will try to focus ore n saving money than my own wants. I will try to be more practical. for sure I want a little luxury but need to prioritize my needs more.

I felt so sad when I just cashed out from certain programs where I earn, If those companies only pay in euros. Anyway Australian dollars is now higher in value.

I think OFW's are not happy as well, I may not mind these changes if the basic needs we have will drop in prize. Oil should stop rising in price because its suppose to be cheaper now that dollars is lower in value.

There was actually a documentary about such in the local television which showed that the Peso may be stronger but it doesn't always mean that it's good for the economy or the country altogether. I couldn't explain it right now (or perhaps I'm just refusing to because I don't want to be technical) but the point is that sometimes we need to force the Peso to be weaker in order to create balance. A strong Peso might be good for those who are trading inside the country, but for those who are trading outside the country, it's very painful. Further, it has a huge effect on commerce because people's needs would be demanding for more but the employers (even the multinationals) wouldn't be able to provide such because their money or other currencies are weaker. This mostly because the currencies are pegged to the US Dollar.

Hello Laydee, because the exchange is a bit low compare to the last few years, were the exchange were seemed to be different and higher. now, ten dollars is merely three hundred pesos from it's usual four hundred pesos change. strong peso is visible if poverty isn't too obvious.

If Peso gets much more stronger, the investors who get here for cheap Filipino labor may move to countries that are much more poorer. soon we might not be able to satisfy their needs for cheap labor.

How the heck we can have a strong peso while having a weak economy? Is this the result of the globalization that we just got ourselves into? this is not fair! i don't think good peso is good at all knowing we don't have real investment and jobs. I think it's the dollar reserve investment form foreign companies that making our peso strong. can we have an analyze on this

The strengthening of Peso is good if our economy is growing but it it not. Please read this news article to gain some insights on what the real issue is. http://globalnation.inquirer.net/mindfeeds/mindfeeds/view/20081127-174695/Weak-economy-strong-currency

The big dollar portfolios' coming from abroad are now finding financial heavens here in Asia included of course is the Philippines. We are not the only country affected by this phenomena, almost all country here in Asia are affected. Just go to the link I paste above so you can read the article on inquirer, I also posted somewhere another link for everyone to read.

Third world country or anything they called with us. The problem is that the government did not do something to uplift lifestyle of the Filipino and create a low inflation rate. If the value of dollar will go down to that effect and the inflation rate is still high I don't think the economy is a good reason for them to tell the world that the Philippines, is growing its economy?

I think our population held us down, if we have the same population as Liechtenstein we wont be a 3rd world country by now.

OFW can resort to better economies that doesnt rely on US dollars, I think euros, Canadian dollars, Aussie dollars, and British Pounds are still doing better and they keep going stronger than US dollars.

How i wish there is site out there that will pay us in Canadian dollars, British Pounds, euros or Qatar dinar. sadly we are all paid in US dollars and we have no other way but to work harder.

how much rupees in a single US dollar, How much drop have you experienced? it seemed like all of us Asians are affected.

I for one truly believe and agree with you here romzee. I know that the reason for our peso gaining value versus dollar is that the U.S. economy is going down. Our country is nowhere near developing. As always we're just striving to survive. It's sad but it's true.

The price of oil is actually about to rise, which sucks when it should be cheaper now dollar is lower.

We cannot feel it because the truth is our economy is not growing! The truth is the dollar is losing it's strength not only against pesos but almost to all Asian moneys and other money of the world! Don't be fooled by all the administration brouhaha. Our neighboring nations are all preparing from this debacles while government people are fooling our citizens that the reason for Peso strengthening against the dollar is our economy is growing and this is a time to rejoice. This will only give us suffering especially for our OFW's and Exporters who will loose much of their earnings.

all we need to do is find some earnign opportunity that doesnt pay in US dollar wherever that earnign opportunty is.

The only legit site that pays in euros in as freaking slow earner and I don't like recruiting people so I passed on it instead. My radio commercial voice-over jobs online dropped a lot of dollars. I need to save soon before US dollars gets down to 30 pesos. By far I dont know sites that pays in canadian or Aussie dollars which s now higher.

I do voice overs online, I audition for radio commercials int he US, if you have a news anchor voice and a Neutral American accent, you may try it, Its voices.com sometimes I get jobs, sometimes I get rejected but money they pay very well.

I have the same wish because the damage feels drastic.

not only the US but also all of us who are affected by ts catastrophe.

All the government brouhaha cannot erase the true state of our economy when we go out and find and see what is all happening in our surrounding. Sad to realize that the Sleeping Tiger of Asia is still a dream too far away...

I am thriftier than ever due to this crisis. I just go to work and go home, I have no more fun in my life so can save lots of money.