Actually being a Filipino citizen, I should be happy, right? Call me selfish, but for years now, I have been hurting. When I was repatriated in the Philippines after 2 yrs expatriation in Hong Kong back in 2004, nearly all my savings are in USD. At that time, I was earning it as high as USD 1 = PHP 56. In 2004, when I was already working in Davao, it went down up to Php 54 and it prompted me to rethink of having to convert it all to Peso. My parents disagree and told me to trust them that it will increase again. Sadly, they were wrong. Not that I blame them though because it was my decision. When it hit Php 48, I almost decided to consolidate it all and have it exchanged but I still ended up not doing it, probably because I don't need it yet. But every time I heard or see the foreign exchange rate going down every time, i am hurting. Yesterday, I saw it was down to Php 45.40. Ouch! I already lost at least Php 300k and counting -not even considering deposit interest rate difference between USD and PHP.
What to do? What to do?
2 comments:
Tell me about it...
It would have been ok if we see the dollar rates falling, at the same time prices of commodities and other items go down right? But no no no! They're still either the same cost or even higher (coz the sellers then point to the increasing oil prices).
And for my own vested interests... hubby earns in dollars, sayang hahahah!
Good - Bumaba and loan amount ng Pilipinas
Bad - Lumiit ang kita ng OFW
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