Exchange rate

I love the dollar to peso exchange rate right now. The very first time I converted dollars to pesos here I got exactly 47 pesos for each dollar. It gradually trended lower and lower and about 2 or 3 years ago it got to about 40.1 pesos per dollar.
I was having a very hard time then because each dollar of my pension did not buy nearly as much then.
For the last two years or so the dollar has gone up slowly until about 6 months ago when the rate accelerated. It has made a couple significant jumps this calendar year and especially this month. Just in the last 12 hours it has gone up about .25 pesos per dollar.
Right now the exchange rate is 48.69 pesos per U.S. dollar. That is more than 20% better for me now than when the exchange rate was only 40 per dollar.
Imagine you getting a 20% pay raise. That is basically what has happened to me in the last 2 years and I LOVE IT!!!!
I am still far from rich but at least I have a little breathing room at the end of each month.
I think I will take some money from my 401K and convert it to pesos because I am guessing that after the election the exchange rate will fall back to a lower level.
I hate the banks here but I guess I will suffer the pain and open a peso account. The Philippine Deposit Insurance Corporation will only insure 500,000 pesos per account ( about $10,000 at the current exchange rate) so that is all I will transfer here but at least it will be a small buffer.


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