£:peso has the corner been turned?

[somebody]

Biggest Filipino market is exporting people for foreign currency, that income has took a big drop.

Hence what people have been talking about Phill is further down the whiplash effect than the UK.

Many Ofws will if it goes any lower be unable to remit as required and less money in the phill market. They wont be able to use overdrafts, loans or credit cards as would normally happen to help out.
OFWs and their families will start using up savings either in phill or more likely money will be send abroad possibly to pay mortages, credit card bills etc.

If Banks have there holdings reducded then less will be lent to businesses in phill...