Weaker peso helps freelancers cope

FILIPINO freelancers with foreign contracts may have a reason to be happy as they are earning more because of the peso's depreciation versus the dollar, which helps them cope with rising prices.

The local currency slipped to its new record low last Friday at P58.5. It opened the day at P58.35, weaker than its P58.1 start in the previous session. Friday's new low follows previous record lows on September 2 (P56.77:$1), September 5 (P56.999:$1), September 6 (P57.00:$1), September 8 (P57.18:$1), September 16 (P57.43:$1), September 20 (P57.48:$1), September 21 (P58.00:$1) and September 22 (P58.49:$1).