For someone like me who works online and earns in US Dollars, the steady rise of USD exchange rate to Philippine Peso is a great news! Whereas in the local market, investors are now looking at US Dollar-denominated investments to help offset local volatility and achieve good returns.
Coinciding with market uncertainty associated with an election year, the Philippine Peso itself has been underperforming since mid-April. At present, the domestic currency is hovering around the P47:USD1 level, making its 1.9 percent depreciation the third – highest in Asia after the Chinese Yuan’s 2.3 percent and Malaysian Ringgit’s 4 percent.