Whew! It’s an exciting time to live in the Philippines. Rumors of coups d’éta and rising rice prices are spicing things up for this American expat in the Philippines. Maybe it makes you kind of wonder: “Should You Move to the Philippines Now?”
As this article goes to press at 10:30 am, June 13th, 2018, the exchange rate stands at 53.10 Philippine pesos to 1 US dollar. The Manila Times reports that Singapore-based bank DBS is predicting a fall to P54 versus the US dollar by the end of this year, 2018. Earlier forecasts posted in this website had predicted an even further decline of P56 to 1 USD by year’s end.
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.