Major factors affecting Australian Dollar to Philippine Peso Exchange Rates

1. Major factors affecting Australian Dollar to Philippine Peso Exchange Rates

2. INTRODUCTION

3. If you are an Overseas Filippino Worker (OFW) settled in Australia, who usually send remittances to Philippines - your home country, you might have wondered why there are constant fluctuations in exchange rates whenever your Australian dollar is being transferred to Philippine Peso. This article is going to explain some of the major factors that affect your international money transfers :

4. Economy: The money you send from Australia to Philippines is seriously affected by the economy of both countries, per se, the housing market, growth of the economy, supply and demand and many more. Strong economy increases overseas investors and thereby the value of money. This economic ups and downs affect AUD-PHP exchange rates.

5. Political Activities: The political stand and policies of Government has a serious impact on the economy and therefore on the foreign exchange rates. Depending on the trade deals and other factors conducted on a political agenda in Australia or Philippines affect AUD-PHP exchange rates.

6. Higher-Exchange Rates: At times of higher interest rates, people are extremely interested in investing in PHP so that they can have a larger amount in return. This, in turn, fuels the demand for PHP currency. Inflation: It is when Philippine Peso erodes its value of money that easily scares the investors, who once wanted to invest money in Philippine currency.

7. When you send money to the Philippines, you must make sure that you receive the best exchange rate possible. Thus, you’ll have to watch out for Australian Dollar- Philippine Peso exchange rate, after all, this will determine how much your recipient will come out with at the other side. So make sure to approach the best money transfer in Australia, who offers unbeatable exchange rates.

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