Dollar-to-peso exchange rate from 2014 to now

Once again, to those of you buying real estate here: there is exchange rate risk.

The share of manufacturing and agricultural production in the Philippine economy has been shrinking for 40 years. In short, it has been deindustrializing for decades. Imports have grown accordingly, which has kept the peso's value low, and it got worse as oil prices rose.

I remember that before COVID I used 1 peso = 2 cents to make conversions easy. Now it's getting closer to 1.5 cents. What a harsh world.

I think that's just the average reality of being a developing country. I can't think of a single developing country whose local currency keeps up with or beats the dollar. I'm writing this as someone who is originally from a developing country myself.