Now that Christmas is nearing more and more dollars (and euros, yen, etc) are pouring into the Philippines from Overseas Filipino Contract Workers as they send cash gifts to their relatives here in the country. Some of them would also take a vacation leave and come home bringing their hard earn foreign currencies with them.
Among the best dollar earners recently made popular are the caregivers and nurses working in different places from all over the world such as new york city nursing homes and hospitals. Do you know what this means for business-minded people?
Well, buying dollars at this point of the year is a good thing because dollar rates get cheaper and cheaper as more dollars pour in - it’s the law of supply and demand. The more supply, the lower the cost so buying dollars when the country have lots of them is good.
What to do with all these dollars? Sell them afterwards, when the price of the dollar goes up again. Got the point?
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