PHILIPPINE PESO RISES

[eagletwo]

The Philippine Central Bank is one worldwide that the Federal Reserve made cheaper in borrowing dollars. The peso strengthened 0.8 percent to 43.283 per dollar as of 4:20 p.m. Dec 1, 2011 in Manila, its biggest gain since Sept. 28, according to Tullett Prebon Plc. From Nov 15 this year, Philippine remittances climbed 8.4 percent to $1.7 billion. The Philippines is in lined with Mexico, India and China that will be the largest remittances this 2011. The Philippine Central Bank is very optimistic in the upcoming year 2012.

[pinoycity]

There is always a disadvantage when the Peso climbs up in value. For one, the value of the money being sent by the millions of overseas Filipino workers are going down. If there is no corresponding decrease in the prices of basic commodities, they will also suffer.

[angelako]

My mom will not be happy about this because it means she will get less from the money i will send them.when the peso rises dollar rate is smaller when she will get it,so there is always a disadvantage if it will rise up.But lets just be happy our peso rate rise.

[lieneil17]

Yeah having a high peso rate makes our overseas filipino worker get more unsatisfied. Well my aunt always pay attention to this matter. She will send the money when dollars go up. And dont send when peso goes up. Simple but very useful. Why will she send the dollars she worked out hard to convert into low peso rate.

[rexway]

Sending the dollars when the dollars go up is the best way to use this services,and not when peso goes up doing this transaction when peso is up brings losses so I normally prefer sending the money when the dollars are up and not peso,lol