Family of OFW divided on inflation's effect on peso vs. dollar

The family of an overseas Filipino worker (OFW) expressed worry about the effects of the nine-year high inflation on their expenses even with the higher peso-dollar exchange rate.

The local currency closed at P53.80 to one US dollar -- its weakest in almost 13 years on Thursday.

Alyssa Acuna, who manages the family expenses back home while her husband works in Saudi Arabia, said his remittances increased in value by at least P2,000 per month over the past year due to the depreciation of the peso.

"Malaki po kasi sa panahon po ngayon bawat piso mahalaga," she said on Ivan Mayrina's report on State of the Nation with Jessica Soho.

However, she was certain the rising market prices would hurt their budget.

"Hindi rin po masaya kasi ang taas nga po ng pera pero kapag in-allot mo na po na sa budgeted items sa kailangan, bale wala rin po kasi high price nga po 'yung mga bilihin eh," she said.

Mayrina reported that the Central Bank said the Philippine peso is not the only country with lower exchange rates with the dollar.

The same is felt in ASEAN countries and Latin America in tune with the robust growth of the US economy. — Margaret Claire Layug/BAP, GMA News