I remembered my Economics subject from college. The law of supply and demand states that when supply goes up, the demand will go down… and when the demand goes up, the supply will go down. We have higher supply of dollars now mainly because of the coming Christmas season, remittances sent by 8 million OFWs all around the world to their families here in the Philippines.
That’s why I’ve turned back my peso convertor widget here on my blog to monitor the dollar exchange rate, this might also help you monitoring the conversion rate before exchanging your precious foreign currencies. Christmas season is always the season that foreign currencies have lower exchange rate. So, expect dollar and other currencies to have much lower exchange rate to coming weeks until Christmas.
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palitan mo na kasi tatas pa ang piso. sayang.
Shannon, salamat po sa opinion. Mukhang papalitan ko na. kapag umabot pa ng december, baka lalong bumaba. hehehe
The dollar has taken tremendous hits. We vacationed in Ireland this past summer and I couldn’t believe how expensive everything was with our dollars.