News OFWs in UAE rejoice as peso inches closer to...

OFWs in UAE rejoice as peso inches closer to 16 against AED1

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As the value of the peso consistently weakens in the past few days against the UAE dirham, many overseas Filipinos in the country are rejoicing as they can finally send their hard-earned money at a higher value. 

As of this posting time, September 22, 2022, 11:50 am, the value of AED1 stands at P15.92, perhaps the lowest value in history. 

When The Global Filipino Magazine posted the daily rate on the same day, many OFWs took the news positively. 

“Taas na ng palitan maganda para s ating mga ofw pero bagsak ang ekonomiya ng bansa natin taas ng bilihin kawawa mga tao,” one commenter wrote.

“Msaya ang mga ofw lalo na ako kaso lng ang taas ng presyo ng bilihin pero ok lng din kc baba ang rate taas ang presyo ng bilihin mas nakakalungkot..anyway, dto nman tataas ang remittance ng ofw sa pinas..nakakatulong din sa ekonomiya ntin..kht papano kc lht nman ng bansa apektado sa price increase,” another one added. 

Some were optimistic that the rate would reach P16 on their salary days. 

“Gawin ng 16 pls.” 

“Wag kana bumaba taasan mo pa.” 

“Di na ginawang 16aed alanganin naman sa sahod.” 

“Cge pa ..taas pa..pru pgdating nang sahod..biglang rollback hehe”

“Kapit lng mga kabatan tataas p Yan”

A weaker peso would lead to higher prices of goods and overall inflation. 

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