Philippine Currency Appreciation is killing my earnings!

In as much as I wanted a higher exchange rate for my online earnings, I'm glad that the Philippine economy is getting stronger. Of course, it would be great if that can be felt by the masses through infrastructures, better education system and health care. I do hope as well that the salary for workers increase exponentially in order for our Kababayans to come back to the Philippines and make a living here instead. If the OFWs can find a similar job and earning capability here in the Philippines, then, there won't be a need for them to go out of the country. As for us who are earning dollars online, we may just have to compensate by trying to earn more.

Well, all I want is a stable currency relationship between the two. And the dollar is still plummeting downwards which is most likely be detrimental to the growths of some business sectors in our country as well. The best way to shield yourself from such currency fluctuations is having different sets of currency within your reach. It minimizes the foreign exchange risk and can even give a handsome profit if you can exchange a certain currency for more of another currency. That is why I am accumulating my earnings and will put it into dollar investments while my other peso investments are rocking with the peso appreciation.

I know how you feel. But $40 is still big. Just be positive and work hard. IN time maybe it will increase again.

It's okay if the Philippine economy is strong as long as we can feel the effect of it. It might affect us or those who are working in other countries because of the lower exchange rate but it will have a good effect on the overall standing of the country in the world market. When I started working online, The exchange rate was 41, I supposed. I don't reach the time when it was still high. Have a nice day!

I feel for you. And to think that I have family members working abroad and their hope to make their earnings go a long way is the bigger exchange rate. But with the strength of the peso, they are really getting some beating. I know that I don't sound so patriotic; I should be glad that the economy (or so they say) is getting better given its purchasing power against the US dollar is stronger, but who really benefits from that? Wouldn't it be nicer if the OFWs get to have a favorable exchange rate so they can get more value from their hard-earned money?

I can understand you.I know I should be happy since it shows that The Philippines economy is getting stronger but if the only opportunity that I have is in the internet, I think there's nothing wrong if we wish that dollar will be stronger.

oh if i am to only think about myself and see that my earnings are going low with the current exchange ratei would be worried andsee my mylot money not too helpful any longer but i am more concerned about the economy getting better for us. As a country i feel great we are doing well... Of course if this continues i might take a break at mylot and probaly try a different earning opportunity. Hehe

Wow! 55 Peso to a US Dollar reduce to 38 Peso to a Dollar since ten years ago, i can feel your pain right away especially if it is right after Mylot credited your earning here, you are receiving LESS PESO through the exchanger compare to ten years ago, it must be really depressing to know that your earning is so darn low now while your country's currency is growing stronger every day and week. I have an idea, may be your country's economy shouldn't be growing too fast and perform too well in the years ahead like in the past, so that your currency will not have to appreciate so much higher relative to US Dollar, your country men and women are getting too economically productive and they need to slow down so that you can a chance to earn more from your on-line income base on Dollar especially during Mylotting!

good day bulastika, honestly i really don't know what to feel. with the continuous devaluation of peso, i am not sure if this good or not. however, being an online marketer, i guess, this is not a good symbol, as it really affects the income that i am earning from online.

The peso getting stronger against the dollar is not only bad for you but for your countries economy as well. Think about it countries like Asia and Africa rely on mostly exporting and foregn investments to keep them going. When your currency starts gaining strength wont the foregn investers go somewhere else to get a better value for their money living your country to struggle.

Anyone earning in dollars is taking a hit. Also the same of people sending Euros. My mother’s Euro has a very low worth these days and she bought them years ago when they are still strong. Not sure about the pound. that is mainly the reason that I might hold on to my dollar earnings and buy something instead rather than enchasing it. Good thing my new boss is paying by pesos. Sometimes, you really can’t win when it comes to currency. Come-on, give us a few years to be a little prosperous than we are now and then, maybe the dollar will be strong again But watch out for the US economy and their debt crisis. That’s the reason why i am watching business news segments more than I would like. Okay, i was learning and loving it.

You are not selfish kababayan . You are just financially melancholic for you experienced high dollar conversion. Well, you have been preveledge on the past with your dollar income. Lets look at more of our national economy at least it is strengthen this time with the power of our peso. But sad to say it is not well felt buy us Filipinos.

same here in mexico. Our pesos was 14 to a dollar- usa now around 12 per dollar here. So we are feeling the same as you are there.

Everyone worries about, however in the long run it will benefit us all because the costs of imported goods will become cheaper now than 10 years ago.

I feel undecided towards this issue. Because I don't know if I should be happy on either side and I have reasons to be happy on both sides. Because if the Philippine economy is getting better then the dollar exchange rate will go down. My mom works in the US and is earning dollars while my husband works in the Philippines and earning Peso. So I feel a little in the middle.

I totally agree with you Bulastika. Peso valuation is not an indication of a countries prosperity in the first place. The Philippine government should do something to keep the valuation low just like what Japan is doing. The Philippines is a service providing country so the economy will be ruined if the Gov't doesn't act now and maintain the peso-dollar valuation. Instead of putting our taxes in their pockets, they should start building infrastructures and not rely on private companies doing it for them.

That is just how the way it is. It may be bad for us "dollar earners". But having a lower dollar rate is good for the Philippine economy.