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Archive for January 6th, 2009

Jan 06 2009

Sterling is getting lower

Published by blogsmith under Musings Edit This

I checked the currency exchange today and was hoping for some good news but I was disappointed it got even lower than before Christmas. A couple of weeks before Christmas British Pound was 73 to Philippine peso. A week later it dropped to 71.

Today, it depreciated even more to 68.8. This is bad not only for the Brits but for Overseas Filipino Workers who send money to their families back home. My husband, who is an Italian, is not happy either as Euro is almost equal to the pound.

But like what I read a couple of weeks ago, adapting the Euro currency may not really solve the problem just like that. But I think this current economic situation is a lesson to be learned. And hopefully, people won’t make the same mistakes again in the future.

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