A lot has already been written explaining the reasons behind the fall of the US Dollar but very, very few have offered solutions on how to deal with it. In this article, we give some suggestions on how to face the challenge of a depreciating US currency.
The fall of the US Dollar is very much apparent in the Philippines, with the Peso appreciating by as much as 18.8% in 2007 — making it the year’s best performing currency in Asia.
Although the peso’s rise has brought economic benefits such as lower inflation and higher purchasing power, it also hurts exporters who are currently struggling with rising prices and Overseas Filipino Workers (OFWs) and their families who are now getting less from their dollar earnings.
What then to do in order to deal with a depreciating dollar and appreciating peso?
Here are a few tips.