Good News! Peso Strengthens stabilizes to P42:USD1

 

 

I remember when I was a kid, enjoying my comic book with chichiria and soda at hand, I would dream of having those Sea Monkeys that they have on those ads. I would fill up the order form and excitingly cut it out. This would then be handed over to my dad and Id tell him to mail and buy them for me. “Its not that simple” he tells me. “This is mail order and we have to pay in dollars”.  Back then the exchange rate was P8.00 to USD 1.00. Did I just date myself? Do the math and economic history as to when that was.

The edsa revolution came and suddenly we were at P 25.00 to USD 1.00, I was in high school then , still, no Sea Monkeys for me.

Fast forward to 2007 and the dollar rate was just crazy at P 55 to USD 1.00.

I read the article thanks to my Economic Professor friend and International Ambassador Pete Delfin for the link

http://business.inquirer.net/76483/peso-seen-slipping-back-to-421-level

The article discusses that the Philippine Peso is getting stronger and would level off at P 42 to USD 1. Its a far cry but Im still hoping it creeps back to P8.00 in my lifetime.  Aside from the BSP (Banko Sentral ng Pilipinas) curbing policy and interest rates for SDA (Special Deposit Account) investments, the recent rise of the peso was also due to the country credit rating upgrade from Standard & Poor’s.

S&P raised the Philippines’ credit rating from two notches to just one notch below investment grade, citing favorable macroeconomic fundamentals.
Now, as of date. .. Still no Sea Monkeys for me. But ordering anything online is such a convenience. But let the good news remain, our Philippine Peso is gaining strength. Mabuhay!

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I know you might be curious as to what Sea Monkeys are ..but it was really advertised as Happiness in a Bowl.  Wouldnt you

buy one if you saw these ad?

 

 

 

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