The peso-dollar rate will hit 30 pesos by next year

Well, that's good news because it means that our peso is getting stronger. It means our economy is getting nicer. But i must agree that i will be sad too, if that is the case because the exchange rate to peso of our earnings here will also drop by more than 10 pesos by a cent.

this might be selfish of me... but i hope not. PhP30 to US$1 seems too low for exchange rate, whereas it has maintained itself for roughly PhP41 for several months now. dropping too low would affect the buying capacity of families of our overseas workers, who also plays major contributory role in our economy. dollar earners both online and offline will be affected. on the other hand, if it goes down to PhP30... that just means we have a stronger peso. but then again, overseas workers and their families won't appreciate that if it means less buying and spending for them.

It is possible that the peso-dollar exchange rate will go down to P30. But economists have been predicting that for the past five years. On a good note though, it will mean that our economy is growing stronger if our exchange rate will go low. The bad part is for the OFW's because the money that they will be sending home will become low. Imagine if before an OFW sends $1000 and that is equal to P41000. If the peso-dollar exchange rate will become P30, then that P41000 will become only P30000. That's a difference of P15000 or in current exchange rates $400. I do see signs that the p30 is a possibility. For the past three months, the dollar has gone lower. I cannot even exchange my money now, and if I do it's become very small when converted to peso. My other friends are also complaining because they have bought dollars at P56 to $1 and they did that because they were traveling. I only hope that if the exchange does go down, we can feel some improvement with our economy. I cannot bear to think that our exchange rates are going down and prices of goods keep going up. Might as well live abroad if that's the case.

If this happens... then i am so glad that i am no longer an OFW... because working abroad... being away from one's family would certainly be not worth it... domestic helpers earn line 15,000 php nowadays with the current exchange... so that would be like 10,000 php or less if peso-dollar rate hits 30 php...

OMG! I hope it will not come true. My sis from the states send us( me and mom) monthly allowance. The value of the dollar is already low today. I hope and pray it will not go down.

That would be really a bad news somehow. Cause we will be earning less. But then to think of it. If dollar becoming less then it is right to say that the peso rate is increasing? does that mean that Philippine economy is increasing? Hmmm, But to earn here a lot the dollar rate should increase in the Philippines. Hehehe

There are pros and cons on this one of course. For the government it is a favourable sign that peso is getting stronger. It means they will be paying lesser peso for the loans they got from abroad. For importers as well means they can buy more goods to sell here. This one is bad news for OFW, online workers and exporters as well since it means they will have to work harder to earn more since the value of peso is against them. Well as one foreigner says it is only the Philippines that is disappointed when the peso gets stronger vs. dollar mainly because many families here are affected when this happens.

OMG! I hope it will not come true. My sis send us (me and mom) monthly allowances. The value of the dollar is already low today. I hope and pray it will not go down.

Even though, it will greatly affect people who are working online, still, we don't have to be selfish enough to say that we don't want the Philippine peso to be strong to the dollar....because it will mean that the Philippine economy is greatly developing and is so strong enough...

Hello cobalt, I don't know how i should react. just imagine us not getting 400 but only 300 peso less for earning ten dollars at least from mylot. that would be sad for me because am not that always active and can't post fast the way i used to. besides, i've heard it' 39 and not 30! it's not good for online earners like me.

Since working online gives us dollar earnings, then it's a bad news. On the contrary, low exchange rate means the economy is doing great. Before, when the dollar was almost 50pesos, everything went expensive and when it was lowered, the prices are the same. So I hope that when that time comes, everything will be much affordable.