The Philippine peso has already hit a new all-time low against the pound and the dollar this morning.

In 2004 the pound was 108 pesos.

It's good for the US and UK, but bad for ordinary people here. The holiday season is coming and wages here haven't moved. I expect the crime rate targeting foreigners to rise in particular. Always stay aware of your surroundings and be careful.

The lowest against the pound wasn't even close, not even remotely.

It's both good and bad depending on how you look at it. Compared to 6 years ago when the rate was 50 to the dollar, our purchasing power measured in dollars or pounds has declined. Inflation has been a bit higher than the increase in the exchange rate, so our purchasing power is down about 1-2% from 6 years ago. It may be bad for locals but good for OFWs who earn in dollars or other foreign currencies. If you borrowed at a fixed rate when it was 50 six years ago and are paying it off today, you're the winner. My Wise account automatically converted dollars to pesos at every odd number after 55. It converted more at 63, and now it's been reset to 65.