OFWs hurt by strong Philippine peso

[LytSlpr]

i used to be an OFW and my mother was an exporter. the market is not almost conducive to importing products and trade it in the philippines because of the "stronger" buying power of the peso and the people who earn in peso currency.

it is okay with us since it is for the good of our country.

the brighter side on the longterm is kung mga sige na ug ingon ani ang trend bisan kinsa pa ang presidente, OFW's and Fil-Am retirees will now not have second thoughts in retiring in the Philippines.

[kageron]

ang impact inig decrease sa currency ma feel dayon especially inig convert... Pero ang impact sa mga commodities basin dili ma feel kay dili dayon maka roll back sa price.

[DEMONOCIETY]

Mao jud, naa pay mga anak cge rag duwa Billard cge inum suroy, wa gani nanarbaho kay magpadala man si Papa or si Mama kada bulan. Di angay kaloy-an

Syalan man pud na nga family trait oi zero balance man ta ana pirmi kalooy jud mao ra ni siguro ingnon nga pobreng OFW kafaet

[SioDenz]

Syalan man pud na nga family trait oi zero balance man ta ana pirmi kalooy jud mao ra ni siguro ingnon nga pobreng OFW kafaet

daghan sa atu ana bro.

[æRLO]

How could I miss the point, especially when I am OFW all my life?

I have seen the forex dance the floor from 1:18 in fact.

But then this exercise is futile and pointless, for how in the world could I explain to you that forex fluctuations do not really hurt us as long as it is not 1:1? Anything more than 5 multiplier is good enough for the general OFW population..good enough, and reason enough to leave family, to find so-called better opportunities in foreign lands. It is all about the multiplier effect that fuels greed for some.. and real sacrifice for most.

It is only the thoughts of GREED that hurt, and as you explain in X and Y and Z, it may hold some moisture.

But then.. we are on different tracks here, and I never mean to proselytize here. We just have to agree to disagree then.

But the truth never needs any advocate to defend it.

That's not greed, dude. I don't know about your situation as an OFW, but I've met people whose budgets are rigid--meaning they have minimal to zero elbow room with what they earn and what their expense is. This is very true to families who have one primary bread-winner. So, if the cost of their living (their utilities, sustenance, education) are Y and Z, what happens if it is no longer affordable BECAUSE their income is lessened WHILE the expenses remain the same? It may not be true to you, but it is true to several hardworking OFWs I've known. And These are not people supporting dependents in very lavish conditions, these are people living on minimum.

[kuyabog]

That's not greed, dude. I don't know about your situation as an OFW, but I've met people whose budgets are rigid--meaning they have minimal to zero elbow room with what they earn and what their expense is. This is very true to families who have one primary bread-winner. So, if the cost of their living (their utilities, sustenance, education) are Y and Z, what happens if it is no longer affordable BECAUSE their income is lessened WHILE the expenses remain the same? It may not be true to you, but it is true to several hardworking OFWs I've known. And These are not people supporting dependents in very lavish conditions, these are people living on minimum.

We, OFWs, did not decide to accept job offers abroad because the exchange rate is above 40. We, OFWs never think of resigning from these jobs if the forex is less than 40.

In fact, we, OFWs, choose to leave families here, and accept work abroad because we earn a lot more for the same efforts and the same labor we give here in our country.

We never thought to be greedy.. well.. maybe others are.

As long as the forex is at least more than 1:5, there are those of us who will not think of being "hurt". Rather, fortunate than earning and working here in the Philippines for the same jobs.

A strong peso should mean more purchasing power. If an OFW earns in a foreign currency multiple of times greater than the Philippines peso, then never should it hurt.

The problem is... greed sometimes seep in the psyche. The thoughts of 1:55, the mind quickly multiplying numbers, that is where the so-called hurt is planted and nurtured.

Glad that you know "several hard working OFWs". They should know better too.

[Dorothea]

æRLO, I know exactly what you're saying. A close friend is the sole breadwinner of her family. Her income doesn't leave much elbow room, as you say, between what she sends her family in PI and her own living expenses. When she has to send more because of dollar-peso fluctuations, it creates problems for her.

[miramax]

æRLO, I know exactly what you're saying. A close friend is the sole breadwinner of her family. Her income doesn't leave much elbow room, as you say, between what she sends her family in PI and her own living expenses. When she has to send more because of dollar-peso fluctuations, it creates problems for her.

Indeed, count me as one of these living examples.
Yes my current earnings in this foreign currency is multiple times greater than this powering peso but the fact remains that the end-result causes like a boomerang effect. Bottomline is, I'm the one who suffers the consequence or being affected the most here as the result of this powering peso being an oFW simply bcos my family will demand for more or increase dr allotment kay lagi nagtaas na tanan diri- the usual line mga bro.

[Dorothea]

@miramax -- if you don't mind, who do you support in PI? Just your kids?

[mudskipper77]

sa ako lang opinion as an OFW for three years, dili worth it nga magpabilin ko nga langyaw sa laing nasud kung ang
exchange rate is below 1:35.