The strength of our OFWs
The INQ7Money reports that the peso has surged to a three-month high of 51.33 to the US dollar, and market analysts even believe “the peso will soon retest its 2006 high of 50.88 to the dollar, recorded in March”. This thanks to a MAJOR factor:
Our overseas Filipino workers (OFWs) have been sending a whopping $1.14 billion in May, in time for school season (tuition, school fees, etc).
Also aiding the peso, INQ7 reports, is the ocuntry’s healthy level of foreign exhange reserves. But I want to focus on our OFWs – and give you our greatest appreciation and gratitude. You give our economy much needed boost month after month. But more than tha, you’ve sacrificed your all to better your family’s situation. You’ve endured a lot and I can not even imagine how difficult life must be away from your loved ones.
So I say, “thank you with all my heart”. And when you come home for a vacation, or for good, may you find your homes intact, your family well, and this country ever grateful.
Tags: economy, foreign exchange, jobs, overseas Filipino workers, peso, remittances
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