Apr 18
The peso has gone way too stronger than the dollar for the past months and has not shown any signs of slowing down. It’s good news to businesses doing importation but poses a dilemma to families relying on OFW remittances, dollar account holders and BPOs among others.
I have almost signed up to a mutual fund program offered by Generali Pilipinas during the time when I asked them for 10 and 20-year life insurance quotes. The fund was in dollar denomination and the potential of earning interest at 20% and up was tempting. It was still P50 per dollar. Now imagine the effect of a weaker dollar to those who have invested their moolah in this financial program. It’s a bit of a nightmare.
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