Ej Lopez
Ej Lopez

A few years back, my former student in Economics who joined the ranks of overseas Filipino workers was in a quandary because of his professional thoughts regarding his earnings as an OFW. Though the income remains fixed at a certain point as far as his host country is concerned, this remains variable in the home country, just like any worker of his nature. It is very technical for an ordinary person to even realize that the income varies according to how the dollar values to the peso. OFWs who work abroad are presumed to send their income in the country to support their family. More often than not, OFWs receiv their income in the form of foreign currency (generally in US dollars), then remitted locally. Therefore, local take home pay varies according to how much is the value of the currency (dollar) at the time of the remittance. In theory, it is extremely favorable for them that the dollar has a higher value than the peso to enjoy a better life rather than a higher peso value.

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