The Peso has gained more than 10 pesos from its peak of Php 56. OFW’s are hurt with the sudden rise our local currency. For OFW’s earning $1,000, what used to be Php 56,000 is now only worth Php 45,000.

The rise of the Peso stems from a globally weak dollar, the strong remittance of our OFW’s, and the inflows of foreign money in our stock market.

The Pesos will probably loom in the Php 44-45 range by year end. OFW’s should use their money wisely because of the huge drop in their purchasing power.