The Foreign Currency Versus Philipines Peso
Hola! Everyone its a great Saturday Weekend...
I am an OFW in Singapore for almost 11 years, and yearly I had my home vacation back to Philippines.
But since covid19 pandemic, I havent go back home for almost 2 years time, and this September I am planning to go back Philippines.
Well, if you are an OFW (Overseas Filipino Workers), you are always doing, calculations and comparing your currency to peso yes it is a real nature, hope someone else gonna relate.
To make it straight to what my point is, as OFW like me, we feel relief if the currency of which country were dwelling is in weaker state than the peso and for that,we have a good exchange rate. Even though we know it has a market issues but the most is we can have a good rate.
Mostly I send money during weekend where in the rate is quite stable depends on the friday standing, because Friday is the closing of stock market.
So what ever exchange rate closed on friday it will be still, until Sunday and Stock Market will be open up again on Monday around 9 am.
Since Im in Singapore, the Singapore dollar rate is in a good value SGD 1.00 = PHP40.00
I used Singtel Dash to send remittance its because it is very easy, and convenient I can reload via 7-11 top up, and instantly I can recieved the money.
When I send remittance I have a few choices, either send to Bank Acount, pick up to Remittances center or send to Gcash.
As you can see down below;
The charges of remittance fee is quite less compare to other remittances services, and what most convenient is I can immediately received my remittance, that is the most important.
If you are in Singapore and if you are also using this system I know that you will surely agree with me.
In this recent past few months we knows that peso is weaker than the US dollar, but in some currency peso is still soaring high.
As an OFW, we are in opposite of what other pinoy was expecting, our happiness was in the rate of our foreign currency.If stronger we can exchange more pesos.
Even though we also coping up how high cost of living in Singapore, especially the food prices, the fare and other commodities.
I can say that if i had one hundred pesos only I can only able to buy a single meal for my breakfast and its so simple menu, and the quite special is 4-5$ and up witch equivalent to 120-150 Philippines peso.
And if you wanted to try some more extra special you gonna end up ordering western food and korean cuisine.
Thats my thoughts to share with you today guys.
Lead Image by: Unsplash
I've also seen a vlog of an American Vlogger, he said there that what he mostly like about Philippines is that the stuff here are cheap to be bought HAHAHHA