Thursday, January 17, 2008

OFW BONDS TO HELP OFW's COPE WITH DOLLAR DEVALUATION

Under the leadership of the Landbank the government is offering investment instruments for OFWs, including the OFW bonds. The Development Bank of the Philippines and HSBC will also take part in the initiative to help OFWs.

The long term instruments will enable the OFW's to invest in pesos and earn high yields over a 5 year period. The said investment vehicles will be exempted from taxes.

This long term instruments will hopefully help OFW's cope with the rapidly declining value of the US dollar.

MORE INFO IN THIS LINK

11 comments:

Win $250 said...

It must be difficult as the dollar devaluation is coupled with peso's appreciation.

British pounds is affected as well. It used to be P95-P100 per £1 now the exchange rate is as low as P79.6

Francesca said...

everything goes down these days, even my Boss shares and they would attack me (try to find faults in my work) because of these money business.

Euros is 59 pesos before it was 65!

the ofw bonds are good. I would prefer that(if I got the money) than buying a property that goes to rot in 5years...

JC.Smith said...

Hi Win and Francesca!

At this point, safer investments such as OFW bonds or immediately converting your foreign cash into Philippine currency is probably the best option. With projections that the dollar will continue to go down, it is best that we stay ahead and keep our money in pesos. Another thing that we can do is to invest the money in blue chip stocks which surely increases in value through the years.

Remitter said...

I think the LandBank has done a great job by coming up with the LNTCDs. These are tax exempted and would surely offer better investment opportunities to the OFWs. The OFW bonds and OFW banks were long awaited and it's better late than never. With the peso appreciating and the dollar devaluating, the bonds are going to be a boon for the OFWs. I agree the blue chip stocks are good for investment too.

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