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1 U.S Dollar to 50 Philippine Peso - Buy now before it drops

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1 US Dollar Reached to 50 Pesos Once Again

The Philippine peso weakened as US dollars becomes stronger as days and months passed in the country. The ten currency news articles – Friday, will prove that Philippine peso is recently becoming one of the worst performing currency in all countries of Asia vs. the US dollar. As of Jun 28, Philippine peso closed at 50.5123 to $1. A strong US dollar does not only indicate a strong economy but a relative strength against currencies like the Philippine peso. In this light, the peso will continue to depreciate as dollars grow stronger.

Pros:

Good for Traveling

Many travel agencies open doors for travelers with dollars on their hands. Americans must see the ten currency news articles-Friday and decide to travel to the Philippines and witness how those dollars go and stretch further than expected. With a Php 50 per $1, it lets traveler have the highest degree of buying control since the food and items in the Philippines cost cheaply compared to US countries. A few hundred dollars can buy more stuff in the Philippines.

Travelers can enjoy their affordable vacations because once they exchange their dollar; they will have more of it in their pockets. They can buy cheap goods in the Philippines and carry it with them as they go home to their own country.

Good for Filipinos earning US Dollars

A weaker peso is a good thing to hear for Exporters, Overseas Filipino Workers (OFWS), and home-based workers earning dollars monthly. The typical $300 salary of an English online tutor will be Php 15, 153 once exchanged. With that on hand, the worker will be able to sustain his or her daily expenses considering the amount received. Their cost of living decreases as they continue to receive their income in US Dollars. Many working students and adults in the Philippines are now relying solely on home-based online jobs because the dollars gives them the upper hand.

Good for Exporters

Exporters from countries earning dollars have good opportunity to export more goods in the country. The business minded exporters gain more as the dollars become stronger in a country like the Philippines. They create a product at a cheaper price and sell it expensively in the country.

Cons:

Fuels Inflation Rate

Weaker peso vs. dollars ends up an increase in the inflation rate of the country. The prices of imported goods such as oil, milk, and wheat, are likely to cost more and people will not be able to afford it resulting in a lack of access to basic economic needs. Good and services imported are expensive when exchanged to peso. Clearly, this still affects the OFWs and exporter of the country.

If the depreciation continues in the country, the businesses both foreign and local will be affected. The best thing to do about this crisis is to make sure the peso and dollar exchanges become stable as soon as possible to avoid a national crisis. Check the Ten currency news articles - Friday before anyone decides to do a business in the country, not just in the Philippines. Most importantly, Bangko Sentral ng Pilipinas must ensure that any hint of weakness in peso will not be too sudden to further affect business operations.

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