I’ve just checked the Paypal exchange rate for today and it’s only 44.10 Pesos per 1 US$. The rate is just average as of now since it has experienced it’s all time low about 2 weeks ago. It’s funny sometimes because different people will have different reactions on the rise and fall of the Peso against the Dollar.
For the US based income people, like those working overseas or even for those who earn a few dollars a week from the internet, we rejoice when the dollar value is high because it would mean that our remittance will be bigger in Pesos. But sometimes, we fail to realize that a higher dollar doesn’t mean a better economy.
I remember the time during Fidel V. Ramos time, when the dollar was only 23.00 Pesos. So, when we went to Subic Duty Free shops, our pesos was of more value and we got to buy a lot of chocolates and other imported goods.
So, I guess investing on dollars will not be a good idea too, as we can’t predict the times. But I’ve heard that many people are investing in gold coins now as they are sure that the value of these coins is sure to appreciate.
