The weakening dollar has both pros and cons.
For the Filipino importers, it’s a positive sign for them, i can see them grinning, while the exporters are scratching their heads in desperation.
The company i am currently working for is obviously affected. It’s an offshoring business. Though the management are doing all they can to show that they’re not affected, or at least they’re saying anything like “turn off the aircon, cut on the expenses and etc.”
The things i noticed that the admin is doing is first, we all have 8 percent salary increase regardless of an employee’s performance rating. Second, our Christmas party will be held at a popular cheap restaurant, last year we had in a hotel in Makati, a posh business district in Manila.
Honestly, the weakening dollar doesn’t worry me at all. I can become rich whatever the situation is around me.