The bullish market is buoyed by good prospects for Philippine corporations and a bullish environment preceded such a sentiment. The market is reflected by sentiments, in reality.

The weakening US Dollar has also resulted to a strengthening Philippine Peso and a 40 to 41 rate by year end may actually be realized. The appreciation of the Peso will definitely have an impact on the huge OFW remittances as well as the exporters segment – both critical components of our economy.

On the other hand, it seems that the Oil prices are rising which will have inflationary impact (rising of prices). The good news is, a stronger Peso will somewhat cushion the rise in oil prices and in a way, help ease inflationary pressures.

My 2 cents.

The US Dollar has lost so much value against other currencies, including our peso. You can recall that the USD used to be as much as P54 to P55 to a Dollar not too long ago.

Is it time to dump all your US Dollars? Should you forget about that currency?

Let’s hear your thoughts. Post your comments on what you think. Let’s make this blog interactive for this post. Thanks!

· Peso strengthened further, hitting a fresh 9-month high of P46.71 to a dollar vs P47.10 the previous day.

· Attributed to strong inflows from overseas workers who sent home funds to families affected by Typhoon Ketsana

· Philippine central bank reportedly bought around $200 million at several levels, with bulk at  46.72 mark.