Ever since the global economic troubles began when Lehman Brothers went out, we've been monitoring the SGD-PHP Exchange Rate. From PHP33 a few months ago, it dipped to just above PHP30. And with Christmas season looming, we're not really expecting it to go up any higher (since, as you may know, PHP tends to go lower during this season because more Pinoys remit home for the Holidays).
Then, we got a lucky break last week; starting October 31st, the exchange rate rose to PHP32.60, the highest it's been in weeks. Tuesday, November 4th, it went down to PHP32.40. As of this writing, by November 6th, the rate has now dropped to PHP32.35.
Hope you guys took advantage of this. Sudden favorable rise in exchange rates tends to last only a few days, maybe a week at most. After that, you'd have to settle to lower exchange rates for the next few months.
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