Peso-Dollar Currency War 

It is not a surprise that the exchange rate maintains its continuous fluctuation especially at these hard economic times. However, despite constant fluctuations, the appreciation and depreciation of rates is what attracts people. Why? Simply because it affects them financially.

Let’s look at a more focused perspective, the Peso-Dollar exchange rate which has depreciated down to P43 for every $1 and could still continue to decline. This may not affect those who travel a lot or buy imported goods, but it does affect those with foreign bank accounts, in tourism-based businesses or those with family members who work abroad to earn a living.

Currency wars are the popular topics of today’s economy since the global economic crisis which began two years ago. Depreciation was forecasted to happen; it was just the matter of when. This is a result of central banks taking measures into their own hands by intentionally making their currencies cheaper in the hopes of making their domestic-foreign rates increase. However, by doing so results in a continuous series of events because it is difficult to stop.

As such, I feel that it is appropriate to establish a new currency which includes the world’s leading nations.