The Philippine peso: Strongest currency in Asia! GOOD NEWS

[Streetcar]

Although most OFW's and foreigners prefer that Philippine exchange rate go up rather than down, i prefer that its not as high. My reason? kaluoy sab sa mga tao sa Pilipinas. The higher the exchange rate, the more it drives the local prices up and the more maglisud ang mga tao sa ilang mga panginabuhi. So never mind the value of dollar in peso. let me see the value of a peso instead.

[baron]

^ The peso crossed the P50= $1 mark. This should really boost the positive trend in our economy. The needs of the exports sector which are affected with the stronger peso should be addressed by the government so as to minimize negative effects, if any. Maybe the Department of Finance and the Bangko Sentral could do something to balance the situation for our exports sector.

In general, still, the stronger peso contributes to the sound economy that this country needs.

[lestat1116]

dako ang problem sa export ani. hinay baya ang export ron. igo pa jud sa dako ang peso. hahai.

[Rance]

Strong peso could lower prices

According to NEDA, it is hopeful that the peso would continue to gain strength against the dollar, as this could boost the local economy and lower the price of basic goods and commodity.

Neda Assistant Regional Director Leon Dacanay said that if the peso-dollar exchange rate reaches P45, the country could incur substantial savings, especially in terms of fuel purchase, where the country is highly dependent on imported fuel.

If the trend continues, one of the commodities that would be affected by a strong peso would be electricity.

Dacanay said a lowered purchasing price for fuel results to lower charges in electricity.

The current peso-dollar exchange rate is at P49.88. :mrgreen:

[istoryador]

Strong peso forces Cebu exporters to lay off workers


CEBU CITY - Exporters in Cebu are starting to streamline their operations to cushion the effects of a stronger peso, which is hurting the exports business.

Cebu Gift, Toys, and Houseware Manufacturers and Exporters Association (Cebu-GTH) president Jenifer Cruz said many small and medium enterprise (SME) exporters are retrenching workers to cut operation cost.

"The export industry is really bleeding. With the continued strengthening of the peso, streamlining operations are becoming a trend in the export industry," Cruz said.

"We're working hard to maximize our manpower through multi-tasking, a move most of our employees understand because business is really hard for exporters now," said Cruz.

"Our workers are working double the load because we have to meet the same volume of orders with a lesser number of manpower," she said.

Cruz said he had already laid off eight of his 75 regular employees this year and his company, 33.3 Export Inc., had downsized his contractual workers from 80 to 50.

To further cut labor cost, he said, the company was also adopting the five-day work policy, which would also help cut the company's power cost.

Cruz said that exporters were forced to implement these measures because the strengthening of the peso had wiped out their capital and profit.

"Export products we gave to our clients abroad six months ago were pegged at the foreign exchange rate of that time. Whether the peso goes weaker or stronger, exporters can never change it especially if a purchase order is issued," he said.

The dollar has now reached the level of P49 after it went against the peso at a peak of P54.

Cruz said that the export industry is struggling especially with the stiff competition in the global market, especially for products from China, Vietnam and other Asian countries. PNA
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Tua ra ang strong peso. Nawad-an na hinoon ug trabaho ang mga tawo. Nya nakatabang na inyong strong peso
He said export companies would rather lay off manpower than close shop.

[kolz]

Bay naglibog gyud ko nimo.

Gi post naman ni lestat ug sa uban, na igo gyud ang export sector ani. Expected na man na. Pero in the end, a stronger peso is better than a weak one.

Usa sa mga indicators of a strong economy is a strong currency. Di man unta ko graduate ug business or economics, pero mao ni ako nakat unan sa eskwelahan. - Economic growth results in a stronger currency, usa nis mga economic factors. This is one positive development. Are you trying to rewrite books? Kung naa kay bag-ong economic theory share it here.

Of course kahibalo ta nga this will hurt the export sector, but did you also knew that this will help them by acquiring raw materials from abroad at a lower price? Mao bitaw nang dunay streamlining, so that exporters can adjust to the changes in the currency, its all by improving effeciency.

You were only citing the export sector, what about the business sector ug kita diay, dili diay ta ka benifit? Kung nag reklamo ka nga ang pandisal gamay na lang kaayo kay mahal ang harina kani-adto, di diay ka malipay nga nibarato na ang harina ug krudo karon?

[pandisal]

don't bother explaining to him kolz... he only filters negative side of all the story...

...basin dili na siya ganahan mo barato ang prisyo sa pan de sal... :P

[endymioun]

alkanse gihapon sila kay nakapalit man silag raw materials katong gamay pa ang peso mao cguro nang dako ila alkanse kay pagbaligya nila sa ila product nibarato man ang dollars. Pero bottom line dako gyud og kaayuhan kung dako ang peso. DId i make sense?

[Sanosuke]

Mao ni... mang lay off ang mga negosyante kay ALKANSE or LUGI kuno ni sila?

Wala man ni sila na lugi bay.. mo profit man gihapon ni sila.. pero dili nalang dako jud kaayo.. Selfish lang jud ning ubang mga negosyante..

Kay hadlok sila dili sila maka VACATION sa US or HONGKONG ig pasko, mao na mang taktak nalang sila ug tao...

Or ang uban, gusto mo palit ug another FORD or MERCEDEZ BENZ, nya if dili sila mo RETRENCH ug tao, dili man sila mkapalit sa latest model...

Sa economy bai, dapat balanse man gud ang pag distribute ug goods, nya kaning mga rich, especially mga negosyante nga filipino or chinese selfish man kaau, gusto sila lang pirme hayahay...

Mao na karon... kung mo taas ang piso, manaktak ug tao, kung mo gamay manaktak..

Basta sa akoa, pabor ko aning mo lower pa ang peso as far as 45 PhP... :mrgreen:

[baron]

Strong peso could lower prices

According to NEDA, it is hopeful that the peso would continue to gain strength against the dollar, as this could boost the local economy and lower the price of basic goods and commodity.

Neda Assistant Regional Director Leon Dacanay said that if the peso-dollar exchange rate reaches P45, the country could incur substantial savings, especially in terms of fuel purchase, where the country is highly dependent on imported fuel.

If the trend continues, one of the commodities that would be affected by a strong peso would be electricity.

Dacanay said a lowered purchasing price for fuel results to lower charges in electricity.

The current peso-dollar exchange rate is at P49.88. :mrgreen:

This should really be the case.
With this, the people would really feel that economic gains that the country is experiencing in macro-economic level ultimately benefit the people. Actually, with the rollback in the prices of oil, the public is starting to feel the trend of lower prices of basic commodities.