Hitting a new all-time high...

It's bad for Filipinos. Electricity bills and other prices will surely go up along with it, but salaries stay the same.

Remember that staple goods like rice go up too. Most rice is grown overseas and bought internationally in dollars. Even if it's Thai or Vietnamese rice, it doesn't go straight from pesos to baht, it goes peso → dollar → baht. Salaries and old-age pensions in the Philippines don't rise every time the peso-to-dollar rate goes up. One orange was 10 pesos six months ago, and now it's 18 to 20 pesos. Be kind to people, don't haggle, and give a little tip if you can.

It's a tragedy for people earning pesos at minimum wage. It's a gain for people who earn in dollars.

I've never seen the exchange rate this high. Is the US strong, or is the Philippines weak?