A few years back I can still recall how my customers enjoy their remittances sent by their loved ones from abroad. Well that was long time ago when the peso was at its lowest value against the US dollar. There are reasons why Filipinos should be happy with weak peso, first they can purchase more goods with high exchange rate. Imagine a US dollar would cost 56 pesos and with that value you could buy many things, a kilo of rice and fish for viand, no wonder why many were happy that time. Those days were over because today the value of Philippine money strengthened fueled by strong economic growth. The exchange rate shed almost 10% making OFW’s reluctant in sending money to their families here in the Philippines. As a result the “should be” goods that can be purchased with a dollar are no longer true. You can no longer a buy a kilo of rice or even a fish for viand with your dollar. With that situation who would be happy?. Anyhow my clients still claim money and the have a say to every cents they get….. That is all for now
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Chari oo nga I remember those days when the dollar was 56. Ngayon kahit ako ang sakit tingnan na magpapadala nag pera then ang liit ng value. Last time it was 39. Ouch! Thanks for the visit.