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Thursday, September 7, 2006

Kudos to the Economy

It has been a habit of mine to check everyday the peso-dollar foreign exchange. It has been a good trend so far. It’s nice to see that the peso is appreciating every trading day. What’s so nice about it is that the OFW remittance is not the main reason why it’s appreciating. It’s because of the positive outlook of the Philippine economy by the business sector and the international community; major fiscal improvement due to the robust tax collection of the government; and lastly the major downtrend of the budget deficit.

I’m very optimistic that the peso can reach the 49-peso level or even higher if the trend continues.

1 comment:

Sherry said...

when comes to economy I usually go for economy rice :) its cheaper than going to restaurant to eat.