Do you know some jobs that are open here in the Philippines and abroad?

What will happen if the Philippines Peso Rate is at P25.00 to the $Dollar?

• All my God. This is good and Not, My God if the peso is at P25.00 to the dollar, then most companies will pull there businesses out of the Philippines, it will leave the Philippines people without many jobs in their own country. The whole world won't need Filipino workers to come to their country always, god this will really cause a rift in the Philippines future. I work for a Japanese company now, what will happen? My boss pays a teacher P15,000.00 = $300.00, But if the peso were at P25.00 then the it would cost that Japanese company for P15,00.00 = $600.00. I think the Japanese Company would leave and 100 Filipino Employees would be left jobless, other companies from other countries would follow in time. More jobless workers. It will take years for the Philippines to produce their own companies to help give their own people jobs. Does anyone agree? Those who support their families with the U.S Dollar can't do that anymore after year 2009. It won't be enough, I know, live here.

• Answer:

  Allen. That would depend on the global exchange rates. assuming that peso becomes P25 to USD1. but the baht is 15. the yuan finally adjusts their currency. etc etc. if the rate of appreciation of the currency in competing countries (RP, China, Vietnam, Indonesia, Thailand, Pakistan, others) is more or less the same rate, so the effect wouldnt be as drastic as what you have envisioned. Multinational companies won't leave because it is not cost effective, since the currency rates appreciated much the same in other choice locations. True that Pinoy labor will then be expensive, but to which country will they source? Pinoy abroad won't have much of a choice, they would stay ang slug it out there. you have to bear in mind that the appreciation of the peso is not on its own doing but merely it is an effect of the depreciation of the USD so meaning this is a global effect. Now, if you work for a japanese company, and doing business in the philippines. again TRUE it may appear that the teacher is much expensive due to the appreciation of the peso but you missed something, profits are coming from the PHilippine Island so it is not a question of exchange rate for the fee of the teacher. other thing you have to factor in to your little computation is this. japanese company doing business in RP probably is an importer and sells to local market, ergo, importation is cheaper then turn to more profit, so more profit equals more money for your boss bottom line is he has more money to spend.