March 22, 2010

Pesos Gain Is OFWs Bane


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MANILA, Philippines In a remittance slip, there was an additional US$50 that Cesar Dimasupils daughter Arlene sent from London. But he remained stoic. That [money] would just even things out, Dimasupil says of the dilemma that most families of overseas Filipino workers are facing under a stronger peso and a record-low inflation rate.

Dimasupil, like most Filipinos brought up in a male-as-strong society, says he doesnt know if he should celebrate for getting the added money from something he said he shouldnt have asked from his daughter in the first place. But what can I do? They say the strong peso could lead to lower prices. That hasnt happened in the past months, Dimasupil said.

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