0
Total Events
OpenPinas: Weekly Review
Week of January 10-16, 2026
0
Political
0
Disasters
0
Dynasties
PHP:USD Exchange Rate
₱59.41
▼ 0.11% this week
YTD: Peso hit record low of ₱59.37 on Jan 7 after BSP signaled rate cut. Down 1.58% over past 12 months.
Source: BSP / Bloomberg
OFW & Diaspora News
Philippines-UAE Sign Historic Free Trade Agreement (CEPA)
President Marcos and UAE officials signed the first free trade agreement between the Philippines and a Middle Eastern country. The CEPA aims for 90% tariff liberalization and broader access to the Gulf Cooperation Council market, benefiting the large OFW population in the UAE.
New US 1% Remittance Tax Impact Continues
The 1% excise tax on remittances from the US (effective Jan 1) continues to affect the largest OFW corridor. The Philippines DOF estimates minimal GDP impact (0.009%), though ADB projects it could cost ~$250 million of the $38-40 billion in annual remittances.
Tropical Storm Ada May Affect Travel Plans
Tropical Storm Ada, the first storm of 2026, is affecting Eastern Visayas and Caraga regions. OFWs with families in affected areas should monitor the situation. DSWD has extended ₱13.9 million in aid to over 100,000 affected families.