A Festive Christmas and New Year to Filipinos

Reports from the Business Inquirer proves that the present administration still has something good to offer, especially this Christmas season.

“Peso climbed to a 41.31 to the dollar, las Wednesday, defying a regional currency market downtrend caused by concerns on a smaller-than-expected interest rate cut by the US Federal Reserve.

The peso opened trading near the day’s low of 41.54 to the dollar but closed at the day’s peak of 41.31, supported by strong inflows of foreign exchange from overseas Filipinos, currency traders said.

Gaining further from Tuesday’s close of 41.40 to the greenback, the peso has risen nearly 19 percent against the dollar and is at its highest level since touching 41.28 on May 10, 2000. It has been Asia’s best-performing currency since the start of the year.”

Indeed, there are still some reason left for the Filipinos to have a festive celebration as we welcome year 2008. Thanks to the overseas workers! May God keep you safe always!

Add comment December 13th, 2007