Philippines?

Question

Is the current rate of the peso good or bad for the economy

Answer 1

if the peso appreciates, it is good for the "masa"(masses), odinary filipinos whose toils are being belittled by imeldilicious. prices of fuel, lpg, and other basic commodity goes down.

for exporters like fruit processors(mangoes), tuna, and the few remaining and surviving industries, they will have a hard time dealing with the appreciation of the peso. the resulting business closures will also affect the thousands of laborers dependent on the export industry.

Answer 2

For me personally its great! I only earn pesos, so I can buy more dollars to send back home to the US. For people living/earning/spending in the Philippines - it shouldn't matter for them because they should be earning the same money, and still are spending in pesos. For people depending on foreign income - you shouln't be if you can help it - change some savings into pesos and invest here. You live here, so a major portion of your savings/income should be in PESOS, not dollars or crap like that. The dollar could seriosly drop against world currencies very soon. OK, if you have a pension in foreign currency you can't change, but should convert some to pesos and invest it here. That $2,000 per month might only be worth 60,000 pesos in the future.

For the economy as a whole it is good because foreign debt is in foreign currency - in the Philippines mainly in US dollars. That means that as the peso strengthens, the exchange rate actually has a reducing effect on the national debt, which all Filipinos should be happy about.

keiichi - the PESO has been STRONGER than the dollar for a few years now, that means you get LESS for a dollar. 15% less than 2 years ago (nominal exchange rate has zero to do with relative strength).

Capricorn - I don't understand. Don't OFW's earn YEN, Sing $, HK$, EUROS and other currencies? The dollar is weak, but this doesn't effect other currencies to the same extent.

Answer 3

It's good actually for the economy to have an stabilised exchange rate. What I mean is it should change just a little bit whether upward or downward. The Bangko Sentral is closely monitoring the ups and downs of the peso exchange rate for after all, every Filipino will be affected by its sudden and wide margin of change. Nobody likes it 50 pesos now and 30 pesos tomorrow. And nobody want it 50 pesos now and 70 pesos the next day.

Answer 4

That really depends on your interpretation on what a good economy or bad economy is.

If you are measuring using the USD then it is obviously not as good as the PHP. What this means is that if you buy something with the PHP then you can not buy as much as if you bought something with a USD. So the USD will go much further in a country like the Philippines. In recent years the PHP has been gaining value. The implementation of the expanded Value Added Tax (VAT) in November 2005 boosted confidence in the government's fiscal capacity and helped to strengthen the peso, making it East Asia's best performing currency in 2005-06.

The current exchange rate is 1USD = 48.4PHP

Answer 5

I thought it was good when the peso is going stronger but some business establishements are also suffering in connection to this.
For people who depends on relatives abroad, this is quite bad. If the exchange rate before was P50.00, then an average Filipino receiving money from abroad would for example have P50,000 for every $1,000 before. However, it is now more or less, P48,000. If you have kids who are going to school and are studying, P2,000 difference is very important.
When you are an ordinary Filipino, it is nice to travel at this time when the exchange rate is lower. It is cheaper to buy dollars.

Answer 6

Depends on who's economy...

Bad for Philippines. Good for the US.

Every time the peso goes up the average person has to work harder and longer to get more pesos.

For US travelers the dollar will buy more.

Answer 7

It is bad for the exporters and good for the importers. Bad for all the immigrants since they are remitting dollars and majority of the dollars here are remittances from overseas workers. Definitely its not a good news for them since less value in peso but they always claim that its good for economy. I wish I knew the truth. All I care is to kill those basta rds.

Answer 8

As of now, peso rate from dollar is good...a little bit.

Answer 9

im kinda a Filipino (a million/2) yet i cant have confidence she ought to assert that look into each and all of the heroes even my dad (not Filipino) thinks the phil.is doing super progression..... i'd experience very harm and my mom is a filipino and she or he isn't a brown monkey.. some Filipinos are extra effective than human beings from different countries. she in all probability stated that because of the fact some human beings right here around interior the philippines are lazy.. ok ive stated sufficient.

Answer 10

bad for us as a overseas workers..before one dollar is equivalent of 56 peso..they said when the dollars went down its good in our economy(Philippines)But only the corrupt politician will used that money not the people..it really hurts us when the dollar went down..hope it will went up again..