OFWs hurt by strong Philippine peso

[Xian120]

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double post

[lord-lord-lord]

mao gihapon kung mustrong ang peso, kita dili maka-feel ana.

[æRLO]

Economics 101 bro.. kong mogamay ang exchange rate sa atong PESO bro compared sa dollar pasabot ana ni strong ang atong peso that means nga ni strong atong economy, example bro sa tuig 2020 moadto kag USA nya ang exchange rate sa atong peso compared sa US dollar is 20 nlang, so ug naay kay say 1000 pesos nig pailis ana nimo didto sa USA naa kay $50.. but what if ang exchange rate is nahimong 100 nig year 2020, nig pailis nimo ana didto mahimo nalang nang $10.. the more nga magka gamay ang value bro the more nga di nta knahanglan mo abroad, mas sila pay moari dri para mo trabaho nyahaha.

In the world of commerce bro kong mo export ta ug mo import ug mga products to and from other countries mas mka benefit ta kong strong ang value sa atong kwarta coz that means we dont have to spend a lot kong mag import ta, nya dako tag ma kwarta kong mag export ta..

sa laktod nga pagka istroya nidako ang value sa atong kwarta..

that's not economics. A strong currency does not indicate a strong economy. You want a strong economy before you strengthen your currency, otherwise you are re-valuing a currency that isn't in-demand, which is useless. Case in point, the Japanese Yen is purposely weak (during the 70s) in the Forex because their major revenue is in exportation of goods.

[ititub]

daku dako na jud boss, maypa mag alsa balota nalang ta ani,lol

dili lang ko mag alsa boss ky nara kos pinas, akong ginancya dako nag alkansi.hehehe

[Xian120]

that's not economics. A strong currency does not indicate a strong economy. You want a strong economy before you strengthen your currency, otherwise you are re-valuing a currency that isn't in-demand, which is useless. Case in point, the Japanese Yen is purposely weak (during the 70s) in the Forex because their major revenue is in exportation of goods.

It's economics still.. our OFW workforce is part of our many economical franchises, therefore we have a strong export economy because of them.. the money that our fellow OFWs may in turn help us strengthen our economy and in turn strengthen more our currency.

[æRLO]

It's economics still.. our OFW workforce is part of our many economical franchises, therefore we have a strong export economy because of them.. the money that our fellow OFWs may in turn help us strengthen our economy and in turn strengthen more our currency.

yes, and by revaluing the Philippine Peso against the foreign exchange at the same time keeping the same price, you are lessening the buying power of those remittances. There should be a strong correlation between the domestic prices of commodities and the value of the currency. This is why you can't use currency as a gauge on how well the economy is doing. Strong currencies RELY on imports, weak currencies rely on exports.

[Xian120]

yes, and by revaluing the Philippine Peso against the foreign exchange at the same time keeping the same price, you are lessening the buying power of those remittances. There should be a strong correlation between the domestic prices of commodities and the value of the currency. This is why you can't use currency as a gauge on how well the economy is doing. Strong currencies RELY on imports, weak currencies rely on exports.

I have to agree with you on that, it's true that the buying power of those remittances are greatly affected by the lessening PHP forex rate. it is only coz change in economy is not an overnight process, we cannot expect for it to be felt suddenly, there may be intervening factors for this but given that the governing body can regulate well this change for the sake of argument it still would take some time for it to be felt, change takes a lot of time, let's just hope that our forex rate will keep on improving.

[silent-kill]

paita ani oi... last 2010, 1SR=Php 12.something, karon SR= Pph10.87. alkansi sa kamingaw..

bro maybe its an indicator nga dapat naka mo balik diri? heehe..

[burn777]

hehe at least the peso is going strong.. pag sugod nako ug abroad P60 pa ang dollar nya karon nalang nuon ta ma hurt kay P40?

its still boils down to savings.. save for the rainy days.. cguro ang na affected ug maayo ang kana di kaayo mag save.. or wala ma save kay kuwang pa ang sweldo..

[urejiak]

What we need is stability of the value of peso against the dollar. That would attract more investors i believe, and wouldn't hurt the OFWs.