Because of the positive response to President Noynoy Aquino, the peso is gaining strength the past few days. When I did a withdrawal in Paypal two days ago, the US Dollar-Peso exchange rate was US$1 : Php43.6870. Before that, peso was in the 44-something range.
A strong peso is bad for bloggers like me who rely on a higher exchange rate when we withdraw money in our Paypal accounts. For the Philippine economy, a strong peso is a sign of progress (unless there’s a hocus-pocus in the Central Bank, that is).
It’s always mixed feelings for me. Although if I’d be honest about it, I’d be much happier to see the peso-dollar rate in the 50-something range!
