A recent article in Bloomberg Businessweek recently reported some good news for expats in the Philippines. “Ph Peso Seen as Asia’s Worst Performing Currency 2018.”
The Philippine peso broke the 51 a dollar level Friday. The PHP closed at a fresh 11-year low against the US Dollar. Rising tensions between North Korea and the USA are said to have contributed to the peso’s demise. As this post was being composed, Saturday, Aug. 12th, 2017, the current rate stood at 1 USD = 51.06 PHP.
I’ve resided in the Philippines for over eight years now. Thankfully, by the grace of God I met a beautiful Filipina through a pen pal service in June of 1999. We married in January 2000 upon my first trip to the Philippines. While I occasionally might complain about the power outages, brownouts, on our island province of Guimaras, I wouldn’t trade living in “paradise” for anything. Let me present to you my “Top 5 Reasons for Moving to the Philippines.”
Some analysts predict that in 2018 the peso could weaken to 55 to 1 against the US Dollar.
Living in “paradise,” believe it or not, is not always the utopia you might think it is. After over six years of living in the Philippines I thought it would be a good time to compile my “Top 10 Stress-Busters for Living in the Philippines.”
The plans for our new house in the Philippines are forging ahead. Yesterday, my asawa and I met with Boy, a local contractor from Guimaras. Boy comes highly recommended and has built several residences for foreigners on our mango province. Our brother-in-law, Joery, along with a crew of three men, will begin work on our father-in-law’s nipa hut first. The nipa hut will be the location where our initial electrical service will be provided. It’s best to start applying for new service early. There are several utility poles already located near our property so hopefully our electrical service will be provided before our new house is built, which could take five to six months.
I'm an American expat from Central Illinois that worked at telecommunications giant AT&T for almost 30 years. I married a lovely Filipina over 13 years ago. We sold our home in Central Illinois in less than 30 days and moved to the Philippines over four years ago. My wife spent nine years with me in the States before my retirement from AT&T. We've been living in “paradise” ever since.
The Philippine Peso to US Dollars exchange rate. Most American expats living in the Philippines that I know follow the PHP to USD conversion very closely. And despite a trend of strengthening that has led the peso to another four-year high last week, the local currency is expected to weaken throughout the rest of the year. It’s predicted to recover to less than 42 to $1 for the most part of 2013. If you’re an American that has retired to the Philippines on a fixed income, you might have some cause for concern.
Lived in the rural province of Guimaras, known for some of the sweetest mangoes in the world, for over two years. Almost a year living in Savannah Subdivision in Iloilo. Our future plans for living in the Philippines involves buying our own lot and building a home somewhere on Panay Island, the Western Visayas region we currently reside in, within the next two years.