Peso Devaluation?
The value of Peso they say had increased since conversion of one dollar had gone down to P39.72 as I tried to transfer to a bank my remaining funds. Is this good news or a bad news? For economists, they say that Philippine economy is improving because of this but is it really?
Before, the reason that we usually hear for price increase of basic and non- basic commodities is because the conversion to one dollar is high- “tumaas na naman ang dollar!” . What about now? Ever week, the price tag of my son’s milk keeps on increasing!
A dollar’s exchange rate went as high as 55-60 to a Peso. Then it became P50 for the longest time until it dropped down to P40. To covert $100 to a Peso that will be P5000 before and to P 4000 now. Where is the P 1000? That could have been a week’s grocery or two week’s milk supply for my kid!
Tell me, what are the good effects of this? Couldn’t it be that the P1000 just went to some one else’s pocket?