We are currently in a global economy where ordinary income-earning Filipinos can earn in dollars. Dollars are readily converted into pesos almost anywhere. Majority of Filipino families are dependent, one way or another, on a member working overseas earning in dollars. Thus, fluctuation of the FOREX has become so important in the lives of ordinary Filipinos. Price increases, for instance of oil and rice, can be mitigated by a stronger peso against the dollar.
Your decision to keep your savings in either pesos or US dollars depends on your financial status and goals. This becomes clearer when you make your Statement of Asset and Liabilities (SAL) and Personal Income-Expense Statement (PIES) and write your financial plan.
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