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Hedging facility planned for Filipino workers
- Tuesday, January 29 - 2008 at 08:34
A hedging facility to help Overseas Filipino Workers cope with the strong peso will be launched by Philippine President Gloria Macapagal Arroyo during her two-day visit in Dubai, reported Khaleej Times. The facility and two investment tools are seen to realise her effort to transform OFWs to what she calls Overseas Filipino Investors. The earnings of majority of the over 10 million documented and undocumented Filipinos worldwide have been badly affected by the strong peso, which appreciated to 11.06 against the dirham over the weekend from Wednesday's 11.18, or 40.7 and 41.15 to the US dollar respectively.
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Jeff Florian, Senior ReporterTuesday, January 29 - 2008 at 08:34 UAE local time (GMT+4)
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