I woke up the other day with a nightmare: I dreamt that the Philippine Peso strengthened so much that $1 became equal to Php1! Since I earn 90% of my income in US$, that was indeed a huge nightmare!
Fortunately, I did wake up and realized that half the population of the country (exporters and OFWs and their families) would go up in arms if ever that happened. But it got me thinking: do I save/invest in US$ or Philippine pesos?
Over the past several months, the peso has steadily strengthened, which means that my salary is effectively getting tinier with each day. As we all know, the exchange rate is influenced by a host of factors – local socio-political situation, OFW remittances, international economic situation, etc. So what do I do? Can anybody out there predict where this trend is headed?