Philippine Economy Talk

[_Qwerty_]

56.89 na...

[uls]

nasa 20 yr high ang USD

The Bloomberg Dollar Spot Index tracks the performance of a basket of 10 leading global currencies versus the U.S. Dollar

[uls]

the Federal Reserve doesn't look like it's backing off (from tighter monetary policy to slow down inflation)

kaya ang lakas ng dollar

[uls]

[Yatta]

[_Cathy_]

How hard will this impact our economy?

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[BratPAQ]

Amaze lang ako sa mga may pamilya na OFW, tuwang tuwa dahil malaki palit ng dollar nila. Pag dating sa grocery at palengke mas mahal naman bilihin. Mas konti mabibili nila.

[uls]

pero kahit papano ung pagtaas ng exchange rate may tulong parin sa pag absorb ng price increases

compare someone who earns in pesos... like a guy working in a local company earning P48,000/mo

and an OFW who sends $1000 per month sa family niya dito

when 1 dollar was equivalent to 48 pesos ung $1000 ni OFW = P48,000

pareho sa kinikita ni company guy

pero ngayon ung $1000 ni OFW = P56,600 (reference BDO)

while ung company guy di naman tumaas ang sweldo

or kahit tumaas di naman ganun kalaki

[dr. d]

Amaze lang ako sa mga may pamilya na OFW, tuwang tuwa dahil malaki palit ng dollar nila. Pag dating sa grocery at palengke mas mahal naman bilihin. Mas konti mabibili nila.

buti sila.
tumaas "kita" nila.
tayo, or rather, ako, hindi tumaas.

[uls]

buti sila.
tumaas "kita" nila.
tayo, or rather, ako, hindi tumaas.

you can charge patients more

[uls]

negative effect ng strong dollar syempre mas mahal mag import

[Yatta]

Amaze lang ako sa mga may pamilya na OFW, tuwang tuwa dahil malaki palit ng dollar nila. Pag dating sa grocery at palengke mas mahal naman bilihin. Mas konti mabibili nila.

Yun ang akala nila.

[uls]

lahat naman affected

pero if you're earning dollars (like exporters, BPO owners, online jobs with foreign clients) the strong dollar acts like a cushion absorbing higher cost of living here

it's like tumaas ang sweldo mo habang tumataas ang bilihin

PHP earners don't have that cushion -- tumaas ang bilihin pero di tumaas ang sweldo

[uls]

it's unfortunate we live under the dollar system

you need dollars to buy oil and other important stuff

as the dollar strengthens (your domestic currency weakens) your country becomes poorer

usually that's only experienced by developing countries (or EM) like PH

but now even developed countries are experiencing an EM-like external shock

like the UK (have you seen GBP/USD exchange rate?)

how about Japan? (see USD/JPY)

strong dollar --> everyone becomes poorer



DM = developed market
EM = emerging market
frontier = the least developed, poorest countries in the world

[uls]

so ikahihirap ba ng pinas ang paglakas ng $/paghina ng piso

yes of course

[c_cube]

$ = 57.22 as of this posting


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[uls]

pasalamat tayo meron OFWs

pag wala ung $$$ remittances baka over 100 php ang $1

[Yatta]

Kulang kasi sa UNITY.

[uls]

^^^

that's a no brainer

[ozcity]

pero kahit papano ung pagtaas ng exchange rate may tulong parin sa pag absorb ng price increases

compare someone who earns in pesos... like a guy working in a local company earning P48,000/mo

and an OFW who sends $1000 per month sa family niya dito

when 1 dollar was equivalent to 48 pesos ung $1000 ni OFW = P48,000

pareho sa kinikita ni company guy

pero ngayon ung $1000 ni OFW = P56,600 (reference BDO)

while ung company guy di naman tumaas ang sweldo

or kahit tumaas di naman ganun kalaki

but nagtaas din ang mga bilihin sa abroad...baka bawas din ang padala ng mga ofw....yung spam nga $au4 lang tapos minsan $2 lang pag nag sale...ngayon $6.50 na..most item sa grocery shop na pinupuntahan ko altleast $3 ang itinaas..yung pechay nga na may apat na pirasong leaf 1.50 lang...ngayon 4.50

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