I have realized that one of the activities that a “Bagong Bayani ng Pilipinas” tend to look forward to, aside from coming home to be with loved ones, is the foreign exchange rate for remittances to Philippines. Five years ago, every one US dollar is equal to Php55. Now the US forex rate is just equal to Php44. Good news or bad news? Hmmm…
This is something we can view as positive because this means that our Philippine peso is getting stronger as a result of a better economy, trust on our political leaders and stronger stock market (Yey!). However, for every overseas filipino worker abroad who sends remittance to supply the needs of his/her family in the Philippines, this is bad news. Oh, if every OFW just know how to take advantage of the power of “hedging”! (ie: to gain from the forex loss, invest the remittance to income-generating assets).
