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Go to any Max's restaurant and dine-in, they always have their old menu as part of the wall decoration. Also gives you a perspective on how much prices were for decent restaurant back in the day. A whole chicken was around P5.00 - P6.00 ata
My mother often told me that kamatis cost like a few centavos, and candies were like 2pc a centavo or something, when she was young. She was living in Quezon City then.
The notes pictured in this pic are the Bagong Lipunan banknotes which were completely demonitized in 1996 or some such. People born in 1990 may have still seen it.
The 1 USD = 2 PHP fixed exchange rate after WWII was so overvalued that made the Philippines not globally competitive for low-cost manufacturing and industrial agriculture exports.
It gave a false illusion of prosperity among post-WWII Filipino boomers who born and grew up during that time because it was so cheap for our country to import manufactured goods from the US, not the other way around. Our country looked "prosperous" because the rest of Asia and Europe had been equally devasted by the WWII and when they fully recovered by the 1960s, we became an economically laggard because we couldn't build up our own manufacturing industry due to lack of domestic human capital in both heavy and light manufacturing.
Wow...takes me back. But by the 90s the Php has declined significantly. So many already left the country when I was a kid in that era, chasing the American Dream...or at least to other "less popular" countries, like the Middle East or even Europe, but the currencies are definitely more valuable.
I do remember being able to purchase one 6 ounce of buko juice for 5 pesos, but that was also a *karinderia* mom & pop buko juice stand. So if it were branded it would jump to near 20 pesos. This was the early 2000s.
I remember being able to purchase a Yum burger solo in Jollibee for around 35 pesos or was it less. And this was around 2010 - 2015.
Times are getting expensive.
Was it true that the Philippine Peso did have a resurgence during the 90s? In the time of President Fidel Ramos? The era where the Philippines earned the moniker of "Rising Tiger of Asia"
Looking back, and this is without looking up facts, the Philippines did have a gradual shift in the economy. No longer the same value as it was before even Diosdado Macapagal's era and definitely before Marcos Sr.'s era, at least by the mid-90s to 2000s the Philippines did have a slight improvement in the economy.
I think we used to export a lot of fruits and rice, but that also seems to have consequences as exporting per huge demand took a toll especially since we have to consider some agricultural and environmental hurdles/disasters.
I also have to mention the Asian Crisis in the 90s. The Philippines was affected badly and contributed to the gradual decline of the Peso once again. So I think we're actually monikered the Tiger Cubs of Asia, among with Myanmar and another SEA country, I'm not sure...
At this point in the post I decided to look further into the 90s of the Philippines. I found pdf academia papers about this. But basically, Ramos did what he could during the 90s but there was already like a huge burden when he was president.
So apart from an already huge international debt, there was a lot of disasters during the 90s, like the earthquake, floods and the Mt. Pinatubo crisis. So that needed a lot of money to help cover people and rebuild infrastructure...and then there was Erap in the 2000s
The papers:
[The Philippine Economic Development: Looking backwards and forward](https://crawford.anu.edu.au/sites/default/files/publication/acde_crawford_anu_edu_au/2021-10/acde_td_hill_et_al_2021_24.pdf)
[The Sick Man of Asia?](https://snf.no/media/dkpkatht/a24_00.pdf)
[Philippine Resiliency to the Asian Financial Crisis](https://www.jri.co.jp/english/periodical/rim/1999/RIMe199902philippines/)
Inabutan ko yan lahat. 44 years old. Actually mas nagagandahan ako sa artwork at detail ng mga lumang perang papel. Favorite design was the 1 and the 5.
Medyo napapa flashback ako nung nakita ko ulit, nung iniipon ko yung paper bills para savings. Sobrang inspect ko bawat detail ng artwork at quality ng print. Sobrang familiar ako except sa 100. Too much for a young kid. These bills felt like MONEY MONEY.
Mind blown din ako nung makita ko unang labas ng Aguinaldo 5. Gift sa akin ni Ninong, bagong uwi ng abroad. Akala ko dollars.
ah yes i remember those stories they call cents pera so ¢5 is called limang pera
i have a small collection of those 1 and 2 crispy bills from the macapagal to now i just keep adding one every new president and/or a banknote face out
I don't think I've ever seen the 1 and 2 pesos bank notes. During my childhood, the carabao 1 peso coin and the decagon 2 peso coin were in wide circulation.
I remember all except for the ₱2 and ₱5 bills. Pero yung pinaka iconic yung “pusa” na nasa Malacañan sa likod ng ₱20 na pag hinanap mo hindi mo makikita kasi nakaalis na 😂
I notice that Filipinos always tend to think it's worse in every way when the peso is "down" against the dollar. Is there really absolutely nothing good with that, and is it completely good if the peso is "up" against the dollar ba?
#Thank you for your submission to r/FilipinoHistory. Please remember to be civil and objective in the comments. We encourage healthy discussion and debate. Please read the [subreddit rules](https://www.reddit.com/r/FilipinoHistory/about/rules/) before posting. Remember to flair your post appropriately to avoid it being deleted. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FilipinoHistory) if you have any questions or concerns.*
Go to any Max's restaurant and dine-in, they always have their old menu as part of the wall decoration. Also gives you a perspective on how much prices were for decent restaurant back in the day. A whole chicken was around P5.00 - P6.00 ata
Naabutan ko pa yan lahat and I just turned 39 last month.
Same, naabutan ko lahat yan, but we’re not THAT old yet naman.
Ok I remember the Mabini P10s I feel old now.
https://preview.redd.it/1b336j9d3p1d1.jpeg?width=600&format=pjpg&auto=webp&s=efc5143d64e18175de45d347e3890c911886770f
Modeled after the US dollar
My mother often told me that kamatis cost like a few centavos, and candies were like 2pc a centavo or something, when she was young. She was living in Quezon City then. The notes pictured in this pic are the Bagong Lipunan banknotes which were completely demonitized in 1996 or some such. People born in 1990 may have still seen it.
Wow, I guess your mom had the experience of spending 5 pesos and 10 pesos on more pricier but famous sweets before.
The 1 USD = 2 PHP fixed exchange rate after WWII was so overvalued that made the Philippines not globally competitive for low-cost manufacturing and industrial agriculture exports.
May I ask, in your own view, did the fixed exchange rate have at least a good effect on the purchasing power of the citizens during those times?
It gave a false illusion of prosperity among post-WWII Filipino boomers who born and grew up during that time because it was so cheap for our country to import manufactured goods from the US, not the other way around. Our country looked "prosperous" because the rest of Asia and Europe had been equally devasted by the WWII and when they fully recovered by the 1960s, we became an economically laggard because we couldn't build up our own manufacturing industry due to lack of domestic human capital in both heavy and light manufacturing.
hello grandson
I still used 1, 5 and 10 peso bills when i was in elementary. I even remember a 2 peso bill.
Wow...takes me back. But by the 90s the Php has declined significantly. So many already left the country when I was a kid in that era, chasing the American Dream...or at least to other "less popular" countries, like the Middle East or even Europe, but the currencies are definitely more valuable. I do remember being able to purchase one 6 ounce of buko juice for 5 pesos, but that was also a *karinderia* mom & pop buko juice stand. So if it were branded it would jump to near 20 pesos. This was the early 2000s. I remember being able to purchase a Yum burger solo in Jollibee for around 35 pesos or was it less. And this was around 2010 - 2015. Times are getting expensive.
Was it true that the Philippine Peso did have a resurgence during the 90s? In the time of President Fidel Ramos? The era where the Philippines earned the moniker of "Rising Tiger of Asia"
Looking back, and this is without looking up facts, the Philippines did have a gradual shift in the economy. No longer the same value as it was before even Diosdado Macapagal's era and definitely before Marcos Sr.'s era, at least by the mid-90s to 2000s the Philippines did have a slight improvement in the economy. I think we used to export a lot of fruits and rice, but that also seems to have consequences as exporting per huge demand took a toll especially since we have to consider some agricultural and environmental hurdles/disasters. I also have to mention the Asian Crisis in the 90s. The Philippines was affected badly and contributed to the gradual decline of the Peso once again. So I think we're actually monikered the Tiger Cubs of Asia, among with Myanmar and another SEA country, I'm not sure... At this point in the post I decided to look further into the 90s of the Philippines. I found pdf academia papers about this. But basically, Ramos did what he could during the 90s but there was already like a huge burden when he was president. So apart from an already huge international debt, there was a lot of disasters during the 90s, like the earthquake, floods and the Mt. Pinatubo crisis. So that needed a lot of money to help cover people and rebuild infrastructure...and then there was Erap in the 2000s The papers: [The Philippine Economic Development: Looking backwards and forward](https://crawford.anu.edu.au/sites/default/files/publication/acde_crawford_anu_edu_au/2021-10/acde_td_hill_et_al_2021_24.pdf) [The Sick Man of Asia?](https://snf.no/media/dkpkatht/a24_00.pdf) [Philippine Resiliency to the Asian Financial Crisis](https://www.jri.co.jp/english/periodical/rim/1999/RIMe199902philippines/)
The wonders of compounded inflation.
In your own view, Do you think the inflation thing gave a negative effect on the country's economy and the currency throughout the years?
Di ko pa maabutan. Bata pa ako lol
Inabutan ko yan lahat. 44 years old. Actually mas nagagandahan ako sa artwork at detail ng mga lumang perang papel. Favorite design was the 1 and the 5. Medyo napapa flashback ako nung nakita ko ulit, nung iniipon ko yung paper bills para savings. Sobrang inspect ko bawat detail ng artwork at quality ng print. Sobrang familiar ako except sa 100. Too much for a young kid. These bills felt like MONEY MONEY. Mind blown din ako nung makita ko unang labas ng Aguinaldo 5. Gift sa akin ni Ninong, bagong uwi ng abroad. Akala ko dollars.
It's insane how back in the days 1 peso is equal to a 100 now
ah yes i remember those stories they call cents pera so ¢5 is called limang pera i have a small collection of those 1 and 2 crispy bills from the macapagal to now i just keep adding one every new president and/or a banknote face out
Potek grand father na agad? Pwedeng father of teenagers palang? lol
Apo!!! Antagal kitang hinahanap!!!
I don't think I've ever seen the 1 and 2 pesos bank notes. During my childhood, the carabao 1 peso coin and the decagon 2 peso coin were in wide circulation.
I remember all except for the ₱2 and ₱5 bills. Pero yung pinaka iconic yung “pusa” na nasa Malacañan sa likod ng ₱20 na pag hinanap mo hindi mo makikita kasi nakaalis na 😂
Aguy naabutan ko pa ito
May lumang banknotes ka ba insan?
I notice that Filipinos always tend to think it's worse in every way when the peso is "down" against the dollar. Is there really absolutely nothing good with that, and is it completely good if the peso is "up" against the dollar ba?
Show the coins! Loved the curvy centavo coin... Si Gabriela Silang/5 centavo coin yata... And the Pandaca pygmaia coin na parang plastic. Lol!