Euro Chocozone Buyer Posted September 20, 2016 Report Share Posted September 20, 2016 Currency devaluations and revaluations also play a role Hi - follwing Brexit - the GBP lost value against USD as well as PHP, so that must have had an impact. The euro strengthened from the low EURPHP46.8 in march 2015 to around EURPHP53.5 now. So that also helps to explain the lower value of the remittances, i.e. the strength of PHP. Then some other - oil producting ? - countries like Kuwait saw huge gains, while Italy and Greece contracted massively indicating severe economic stress in those countries. Link to comment Share on other sites More sharing options...
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