Every Drop Counts…
The good news is that the Philippine Peso is strengthening against the US Dollar. Majority of the Philippine population don’t actually give a crap about it because it doesn’t affect their daily lives. What it actually means is that the price in gas may not go up, or would it? As an OFW, we feel the pain of this, why? Because the money we send back actually loses its value. Before when the exchange rate was 55PhP to 1USD, for 100USD, I get 5500PhP. Now, the rate is 45PhP to 1USD resulting to 4500PhP for every 100USD. I’ve just lost 1000PhP. Why did I lose, well for one thing, despite the strengthening of the peso, you would have seen any price drops on local commodities? How about schooling and tuition fees, did they drop? Oh, I also forgot about oil roll back? Nothing has changed despite the improvement of our currency, the thing though is that 10PhP is really not much is pretty much worthless in our society these days but it just pains to see me that I am getting less for my hard earned money and as an OFW, my family is not benefiting from it directly.
The good news is that we are not the only country suffering, India seems to have the same problem and if the trend actually continues, Indians from the UAE will travel back to their homeland since you can get competitive salaries and lower price of living. Unfortunately, in the Philippines there are still very few places of opportunity, or am I not looking hard enough? It’s a strange world out there with a very sensitive economic system, there is a lot of money out there, but it doesn’t grow on trees.