In my last post, I mentioned that the peso may have reached its peak. Since that day, the Peso continued to appreciate to Php 47.26 to the dollar.

The strength of the peso is due to the weakness of the dollar. Across all other currencies, the American dollar is at its all time low. America is in some financial trouble.

In a survey by Workabroad.ph, 55% of Filipinos views the rise of the peso as unfavorable as it lessens the purchasing power of remittance. 45% responded that this is a favorable scenario as it meant a strong economy.

So do I take my word back? Not until the peso has dropped below 46.