Rate closed today at…

Php47.20 : 1USD

Good for those of us who are into monetizing and earning in dollars. Bad for the economy. I heard this in the news this evening. Also, there was news about the Lehman Brothers, a Wall Street giant, that filed for bankruptcy, and Merrill Lynch who is an even larger Wall Street giant will be taken over by Bank of America. Too bad for the employees working for both these companies. Talks of a take over is never good for the employees’ morale.

Then there is also the possible folding of AIG, the company responsible for the local Philam Life Group of Companies. The reporter of the news program TV Patrol predicted that there will be a clamor for information from policy holders of Philam Life.

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