Live exchange rate tool Exchange Rates.org.uk reflects current exchange rate of 1 dirham now at 14.4356 PHP as of Friday, June 10 at 9:00 am.
Meanwhile, Google’s official currency converter Xe.Com shows 14.436615 Philippine Pesos as of 12:00 noon today.
The remittance-friendly exchange rate is now being enjoyed by many OFWs in Dubai.
“Masaya po kami na mataas ang palitan. Nakakatulong sa panggastos ng pamilya ko sa Pinas,”said Gillian, an OFW based in Dubai.
But for Abel who has worked for more than 10 years in Dubai, the exchange-rate is just a breakeven with the inflation rate in the Philippines.
“Para sa atin na OFW, maganda mataas palitan dirhams to pesos malaki maipapapadala sa Pinas. Mataas nga palitan mataas at mahal din bilihin sa atin mga commodities. Nagtataasan na lahat bilihin, pagkain, pamasahe, at gasolina sa mga sasakyan. Need budget ng family sa Pinas kada buwan pinapadala,”
According to the Philippine Statistics Authority, the inflation rate in the Philippines has risen by 5.4 percent this May 2022.
Ang headline inflation o ang pagtaas ng presyo ng mga produkto at serbisyo sa bansa ay bumilis sa antas na 5.4 percent nitong Mayo 2022. #PHCPI #Inflation @mapa_dennis
— Philippine Statistics Authority (@PSAgovph) June 7, 2022
The Exchange Rate Bulletin of Bangko Sentral ng Pilipinas shows the daily peso per US dollar rate continuously weakening at 52.9450 as of Friday, June 10.
