Sunday, May 27, 2007

Peso now 'uncomfortably strong'

This basically means that there is less peso for every dollar you exchange.

Oil price hikes are looming and the transportation sector is requesting an increase in the minimum fare.

So tell me again why a strong peso is good ?

Many might view this as positive for the Philippine economy. This is good news for the government and companies that have dollar denominated debt, but it's certainly taking a while for the regular Juan dela Cruz to feel the positive effects of a stronger local currency.