Devaluation of Philippine Money

A discussion in one of the Philippine community forums said, “The 'marketing' of the Philippine peso has yielded minimal outcomes during the last 20 years. Somehow, there is a continuing perception of the Philippine peso, as weak & unstable. Using our vernacular, the currency name 'peso' is becoming synonymous to 'talunan' (ie. loser).”

What is the true value of our peso nowadays? It’s really not surprising that there would come a day when our currency ranges from a 50 peso coin to a 10,000 peso bill if it would continue to devaluate.

When you ask people about the devaluation of the Philippine money, they tend to say, “halos lahat na lang tumataas: gasolina, pamasahe, bilihin. Eh ang ekonomiya, kailan kaya tataas? Ang makikita mo tuloy sa mga balita ay mga taong nanghihinayang sa bawat pisong kanilang ginagastos. Para mo lang kasing tinatapon ang perang pinagtrabahuhan mo, wala namang asenso sa sahod.”

But for me, our economy’s success it’s not all about the devaluation of currency, it’s in the discipline and respect of every Filipino.


Sources:
http://www.history.com Encyclopedia – Devaluation
GCAP (Global Call to Action Against Poverty) – Philippines “Kahirapan Wakasan!”
“Debalwasyon ng Piso: Bakit Nagkaganito?” Ni Danilo Araña Arao Pinoy Weekly (Vol. 3, No. 4, 11-17 February 2004), p. 2
pRO Chaos Guild > News and Public Affairs > Halaga ng Piso