I got a rude awakening this morning.

The newspaper headline read:

Peso surges to 45.87:$1

Gone are the days when the exchange rate was 55 pesos to a dollar. Ugh. Just when my earnings were rising. But I guess it is a double-edged sword. The economy is doing well (although debatable) which naturally means that the local currency must improve too. Being a Management Economics major, this basically means that imports become cheaper thus decreasing manufacturing costs and on a macroeconomic level, inflation. But on the other side of the fence, dollar earners such as exporters face stiffer competition and thus experience a drop in earnings.
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