WorldRemit makes international money transfers fast, flexible. The younger Marcos suggested that the country could ease the effects of the depreciating peso by selling the country’s dollar reserves while still at a high price. International money transfer from the United States. READ: Pricier food pushes inflation to 4-year high in September By Joann Villanueva June 27, 2023, 8:13 pm. Higher food prices primarily drove higher inflation. READ: Peso depreciation: ‘Preparing for the worst’įor September 2022, the Philippines’ headline inflation rate was 6.9 percent - a four-year high level. While the peso-dollar exchange rate is not the sole cause for the rise in prices of goods, experts have expressed caution as the exchange has already started affecting inflation. Prices of imported goods and other basic commodities, including oil products, have skyrocketed in recent months. But now many are buying it, so the worth increased too.) This is the US Dollar (USD) to Philippine Peso (PHP) exchange rate history summary page with 180 days of USD to PHP rate historical data from Januto June 30, 2023. (On the other hand, we know that since we are a net importer, so temporarily, the prices of goods would be higher, it’s partly due to Russia and Ukraine, another explanation about it, but during the pandemic, the fed - the US government, they printed dollars, so supply increased. Check out the USD to PHP history rates below. So ‘yong ang daming supply, it became worth more,” he added. “On the other hand alam naman natin tayo ay net importer, so temporarily the prices of goods would be more expensive, it’s partly due to Russia and Ukraine, another explanation about it, pero no’ng pandemya, the fed - the US government, nag-print sila ng US dollar, so medyo dumami ang supply ng dollar, eh ngayon ang daming bumibili. But since the country is a high-volume importer of goods, he admitted that commodities prices would rise. Marcos said that one good thing about the weak peso is that OFWs get to send more money to the Philippines. And while higher supply should have driven prices down, the higher demand for the USD only pushed prices upward. Convert US Dollars to to Philippine Pesos by excellent exchange rate in the USA today. Another reason why the US dollar is strong right now, the lawmaker said, is that the US printed more dollars during the pandemic, increasing the supply.
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