“Money is my military, each dollar a soldier. I never send my money into battle unprepared and undefended. I send it to conquer and take currency prisoner and bring it back to me.”
—Kevin O'Leary
By Alex P. Vidal
WHILE war continued to rage in Iran, one US dollar is now equal to P60.41 as of April 5, 2026, an Easter Sunday and the last time I sent money to the Philippines.
The exchange rate generally fluctuates between 60.18 and 60.43 Philippine Pesos (PHP) for one US dollar (USD) depending on the financial institution and market volatility.
Key Exchange Data (approximate): $1= P60.41, $10 = P604.1, and $100 = P6,04.
Financial experts have recommended checking live, specific rates from our banks or money transfer service centers, as rates change frequently throughout the day.
If we have a $100 bill, the highest value of denomination currently in production, it is equivalent to P6,041.
I first checked the latest exchange rate in the remittance center inside a Filipino grocery store on Queens Boulevard in New York and started comparing the peso to dollar at $100 mark before sending money to the Philippines.
It’s easy to figure out the amount to send via direct bank deposit or Western Union, RIA, Viamericas, Logo, Dolex, and Moneygram, among other methods of remittance if, for instance, the exchange rate is P6,000 for $100.
-o0o-
Some foreign-based dollar earners are “satisfied” if the current exchange rate doesn’t fall below P5,000 for one hundred U.S. dollar.
Families in the Philippines that rely on remittances from Overseas Filipino Workers (OFW) relatives anywhere in the world rejoice if the exchange rate is higher because they will receive more.
Officially crowned the world's reserve currency and backed by the world's largest gold reserves, the U.S. dollar is still mightier thanks to the Bretton Woods Agreement.
Other countries accumulated reserves of U.S. dollars instead of gold reserves.
Some people are concerned that a higher peso to dollar exchange rate might have a bad effect on the wallet of those who don’t have OFW family members.
While it is cause for celebration for OFW families, this might mean, on the other hand, a weaker economy as a country.
-o0o-
The theory is that the higher the exchange rate, the weaker the peso will be and the weaker the economy. But let us leave the matter to the economists.
The most important is the U.S. dollar-dominated world economy continues to be stable despite the economic sanctions on Russia since it invaded Ukraine four years ago and despite the ongoing standoff between Iran and the United States.
This can alway be considered a healthy sign for the Philippines in as far as dollar remittances from OFWs are concerned.
This is also the reason why we don’t want the war Russia had initiated against Ukraine to escalate and why we all wish the conflict between the US-Israel versus Iran will end immediately.
If we have a peaceful geopolitics and foreign relations, we will continue to have a peaceful and stable world economy.
-o0o-
RECORD BROKEN. THE Artemis II astronauts were in the middle of a seven-hour flyby of the moon as of this writing. They have now traveled farther from Earth than anyone in human history, breaking the record previously set by Apollo 13 in 1970.
HIGHEST GAS PRICE. At $6.72 a gallon, this rural county has the highest average gas price in the US. It’s gotten so bad that even some hybrid vehicle owners say driving has become a luxury they can’t afford.
We’re referring to June Lake, California, a picturesque community of 300 people near Yosemite National Park and the Nevada state line. June Lake is part of Mono County, which has the highest average gas price in the United States.
WATER TREATMENT EFFECTIVE TO CURE MAJOR DISEASES. We learned from the Japanese medical society that drinking water in the morning for consecutive days will cure cancer, diabetes, meningitis, TB, high blood pressure, arthritis, all eye diseases, constipation, throat diseases, menstrual disorders, etcetera.
(The author, who is now based in New York City, used to be the editor-in-chief of two leading daily newspapers in Iloilo, Philippines.—Ed)
No comments:
Post a Comment