Over the years, the Philippine Peso has gradually fallen down. Its value has become very low and is being reflected by the outrageous prices of commodities at this year. Everyone needs money, and at the most, Filipino Families are greatly affected since the need for money is greatly applicable within a family.
At the year 2007, the Philippine economy is largely at stake facing many threats in the business and trading industry, the Philippine Peso however, has risen up its value better compared to the previous years. But still, it hasn’t help that much since most of the people have been relying on their relatives abroad which would support them more efficiently since they are earning other currency. As a result, most of the Filipinos don’t give that much value and pride for our own currency.
Figuratively speaking, there are two classifications into which our money has gone to at this year: the rise of the Philippine Peso, and the fall of the Philippine Peso.
Advantage of Philippine Peso
The rise of the Philippine Peso is a very big disadvantage. Not only did our money’s value risen up to a higher level, using the dollar vs. peso rate as a basis, but also the prices of some certain commodities had fallen too. Filipino families are encouraged to work harder for the better economy since they are the ones who’ll be benefiting from this advantage.
Disadvantages
The fall of the Philippine peso on the other hand is a very big disadvantage. Most of the Filipinos are either discouraged from working here or they take their family with them abroad and migrate there to live their so called better life.
In addition, since many things at this rate could not be afforded, many Filipino families have reached poverty line. Crimes and opposition against the government has risen up to a certain level.
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