Peso rallies to highest in nearly 6 years
Peso closes at 49.195 to $1; may breach 48 level soon.
Wow! Is this really good news? Well, not really. You see, even if they say that the Peso is gaining grounds in terms of its value, it isn't necessarily true for the common people. Prices of groceries and basic necessities remain the same if not rising. Now for dollar earners, it means that their salaries actually lessen when exchanged to Pesos. I remember last year when a dollar was worth Php55. Now, it's just Php49! We're losing Php6 per every dollar we earn.
Unless people really see some significant lowering of prices on commodities, the peso "appreciating" isn't really good news for us.
Unless people really see some significant lowering of prices on commodities, the peso "appreciating" isn't really good news for us.
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