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Peso on the Rise

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I am not an expert in Finance but there is one thing I know, the continuing appreciation of Philippine Peso over The US Dollars is affecting us OFW really bad. I have asked my wife just the other day if the prices of basic commodities back in the Philippines are declining, the answer is a big NO. Therefore I would assume that us OFW doesn't have any direct nor indirect benefits from this high value of Php.



A little bit of calculation USD 700 X Php 46.3006 = 32410.406. This calculation is based on last July 23, 2010 exchange rate. Now October 13 USD 700 X 43.335 = 30334.5 Pesos. 32410.406 - 30334.5 = 2075.906 Pesos. This difference maybe for others is just a fraction but for an average family that is a lot. It can cover the electric bills, water bills etc.

My question would be: What does the Government can do to lessen the impact of this currency trend to the Filipino Overseas Workers?

I remember before that there is an organization pushing for a USD to Php fixed rate for OFW's. I guess that's the best way for the Philippine Government to safeguard the interest of its "Goldmine" the OFW's around the world.
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