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Wednesday, November 24, 2010

What to Do When It Reaches US$1 - PhP39


I admit it's not going to be easy for an exporting company like ours to survive in that environment where the peso exchange rate is just 39 pesos to a US dollar. I am just thankful that as early as now, we have instituted changes within the company to make sure we survive that very low conversion rate.  It increases our cost of doing business and we might have to increase prices to cover the difference.  Unfortunately, the local Philippine market is not yet very receptive to our type of content business so we just have to focus again on the foreign market and just increase our market share or enter countries which we are not strong yet - like New Zealand or Australia.

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