The value of twenty pesos

Our Philippine currency is fast depreciating. With inflation at double digits the past quarter, brought about by excess liquidity from cheap interest rates that went into global speculation of commodities, what can our twenty Pesos buy now? and recently, what are some items removed from the list of things that 20 pesos can buy?

  • it can buy you twenty pieces of candy (my wife argues, "not even!")
  • it's just enough for a cellphone sized toge fried lumpia
  • it can get you half of one liter of fuel
  • it can get you a stick of barbecue from the corner baranggay griller
  • it can buy you donuts from Dunkin, but not from Krispy Kreme
  • it can buy you corn from the mais vendor
  • 20 pesos can buy you 2 kilometers worth of distance of fuel, the equivalent of going from anapolis st. to make a u turn at edsa to head northbound.
  • it can buy you 1 piece of siomai.
  • its' not enough for a taxi minimum flag down fare
  • it's not enough for parking in a mall in Metro Manila
  • it can't buy you cheap fastfood coffee
  • it's not enough for regular french fries at your favorite fast food joint
  • it's not enough for a round trip on the MRT

There are a lot more cheap items a 20 peso can buy, but I'm sure you get the picture that the things you can buy with 20 pesos are getting fewer and fewer.

Compared to the price of gold, the Philippine peso has now lost 99.998% of its original 1903-1949 value. The amount of an old gold one peso coin would be (per definition 12.9 grains of pure gold), would now cost P876 on the international commodities markets.

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