Bigger balikbayan boxes from OFWs seen due to peso devaluation

A Hong Kong-based Filipino bank official on Tuesday said the depreciation of the peso against the dollar could mean bigger balikbayan boxes sent by OFWs to their families in the Philippines.
Alfredo Valencia, Metrobank general manager, said in an interview on Balitanghali that the current exchange rate would likely motivate OFWs to send bigger balikbayan boxes than remittances during the holiday season.
"Yun ang naghahati sa remittance na pinapadala natin dahil karamihan sa mga OFW natin, mahilig mag-bagahe yung mga 'yan," he said. "Ngayon, timely 'yan, magde-December, nahahati yung padala at sa yung mga bagahe natin."
Back home, however, a weakened peso could mean higher prices of goods, Valencia said.
"As an OFW, maganda para sa akin dahil malaki ang diperensya," he said. "Kaya lang, ang epekto sa atin siyempre kung tumataas 'yung palitan, 'yun naman ang epekto sa 'tin dahil yung mga nagiimport sa atin, mas mahal 'yung pagkabili nila ng produkto sa ibang bansa [at] dun din naman sa atin ipapatong."
The peso slightly appreciated last week after it reached P49.17:$1 on Monday, its weakest since December 2008 when it traded for P49.370.
On Tuesday, the local currency shed 2 centavos to close at P49.850:$1 from Monday's 49.830. —Rie Takumi/KBK, GMA News
- See more at: http://www.gmanetwork.com/news/story/589798/news/pinoyabroad/bigger-balikbayan-boxes-from-ofws-seen-due-to-peso-devaluation#sthash.uTRmvXtH.dpuf

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