Have you planned on buying a brand new laptop but passed it on for next month's goal because you didn't get the expected amount? Let me guess, you were getting some good income lately like a regular job, but the exchange rates have been as erratic as woman's fickle mind. Well don't pull your hair off. I know that's frustrating specially if you're expecting it and have almost ironed out your budget. But chances are, a good exchange rate today, may not be as good tomorrow. That's how the forex and stock market is. It's almost impossible to see a straight line on their charts. So don't expect to always get a good rate. And for Filipinos and other nationalities who still needs to convert from one currency to another, that's an additional area to consider. Are you charging a low rate because the current exchange in the market is high? Are you considering some cushions if a sudden drop in the exchange would happen? Those are actually the two main issues you'll need to ask yourself before you throw in your bid or submit your proposal.

Aside from the normal exchange rate fluctuations, you should also remember that withdrawing your funds from Paypal to your local banks will give you a much lower rate. As an example, I've graphed my withdrawals for the month of June from Paypal to my EON card. I then compared the rate at www.exchange-rates.org. From the 10 withdrawals that I've made, there was an average difference of Php1.1914 between the EON exchange rate and exchange-rates.org (see table 1)  It's not a huge loss in the short term, but if this amount accumulates over a period of time, you'll definitely feel that little things do matter.

Exchange Rate Trends 1

Table 1: Comparison of Exchange rates between Paypal to EON vs. Market rate at exchange-rates.org

In span of 10 withdrawals that I have made for the period of June (see table 2), the highest level reached was at Php45.48 to a dollar, while it took a dip on the 23rd at Php44.58 to a dollar exchange rate.

Exchange Rate Trends 2

Table 2: June Average Exchange Rate (From Paypal to EON)

Although the month June showed a dip during the last week of the month, it still posted the highest exchange rates during the 1st half of 2010.  The dry month of April also proved to be the lowest point for the dollar earning Filipinos. On the other hand, January and February exchange rates are the months where the exchange rates have been most stable.

Exchange Rate Trends 3

Table 3: First Half of 2010 Average Exchange Rates