When to send money to the Philippines? The recent strong showing of the local currency, Philippine peso, in currency exchange market brought some fear especially to overseas Filipinos who send money to the Philippines. The value in Philippine Peso of the foreign money they earn was affected creating anxiety to them and their families back home. The same is true to the Philippines' export industry. Some experts, however say that the electronics industry, which account to probably more than half of the country's exports were not badly affected due to the fact that most raw materials are imported. Industries that use local materials on the other hand are the ones who feel the effects of Philippine peso appreciation especially against the US dollar.
There are several factors that affect the foreign exchange rates but generally can be attributed to several elements of supply and demand. They are categorized into economic factors, political conditions, and market psychology. There are computer/mathematical models that claim to predict foreign money prices based on the analysis of current events, and result of dual forces of supply and demand. Institutions and professional individual traders make profit from these consistently. For the majority however, the simple answer to the question, when to send money to the Philippines, is related to another more compelling question: how much money to send to the Philippines?
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