Appreciation of the Philippine Peso

[Query]

I noticed that my helper has been on the phone alot lately and asked her if anything was amiss. I found out yesterday that since the Philippine Peso has appreciated nearly 10% against the HKD since late last year, it has put a lot of stress on her when she sends money home to her husband and kids. She has now had to send more each time to make up for the same amount of peso her family receives and consequently she has less to spend on herself. She says she may want to quit and work in another country whose currency has not depreciated against the peso so much. We think this is not an unreasonable decision on her part since if the same position, I may do the same. My husband and I feel for her plight and have decided to increase her salary by $300 each month (we only pay her the minimum of $3400 as she's only worked for us for 9 months but will consider a raise after the end of her first contract) to make up for the depreciation in the HKD. Has anyone had similar experiences and how do you deal with it?

 

[geiboyi]

I realize a helper's lot is not a happy one, but it's a risk all expats take if they have financial commitments in their home country. When I arrived in HK there were less than $11 to the pound, now it's practically $16. I would suggest your helper talks to her family and explains the situation - and then they try and make do with a bit less.

 

[arpana]

yup, we did the same. we increased the salary from the minimum 3480$ to 3600$ as the raise did not hit us badly (and saves us the costs of hiring another one) whereas she's been motivated to stay on.

 

[Query]

Arpana - those were my thoughts exactly, didn't really want to go through the hassle of hiring a new helper if the current one left for more $$ elsewhere and the raise was to us, affordable and well worth the trouble for hiring a new maid.