I am so glad that the dollar rate is continuously increasing now. For the Philippine economy, it's not a good news. But even if the dollar rate is low, it can be good to some countries like the Philippines, but it doesn't really let us feel difference. But if the dollar rate is high, almost all prices will go up too. It doesn't really makes sense. But if dollar rate is high, at least, the money that we are sending to our loved ones in the Philippines will be a little bit more.
Anyway, as of today, October 27, 2008 (10:30AM Central US Time), 1 dollar is equivalent to 49.3340 PHP [source:XE currency converter].
When I left Philippines, which 4 months ago, the dollar rate was between PHP40.00-PHP42.00. So there's much differences now.