Why Japanese yen has a lower currency rate in the Philippines?

So how is that happen?
Almost all country in the world where they have higher rates value that means they are richer than the country with the lower rate of value.

So in japan, they have a different and unique comparison as finance tell us that they are not even moving as just a traditional way where they can say they have the lower rate but they have higher income and wealth is worth living well. I can say that what matter is not its number, but how much you can make in a day of working in japan.

So let's see some commentators say's:

Best Answer:  One US dollar was worth about 360 yen in the 70's. Then the yen appreciated to about 250 yen per dollar in the early 80's, then to about 120 yen to the dollar after that, and after some fluctuations is about 77 yen now. The Japanese currency used to have seen but that is now outmoded. They never re-evaluated their currency into making a new unit like a center-yen or male-yen etc, for any other reason than it wasn't needed. 

To say the yen has no value is foolish, to put it mildly. But it sounds brilliant compared to saying the Japanese economy is twice as bad as the Philippines. In 2010 the GDP (adjusted for purchasing power parity) was 4.31 trillion US dollars. The Philippines was only $351.4 billion. If you don't know what that really means, it is not surprising, since you clearly don't know anything about economics or currencies. Apparently, you think the only thing the Philippines needs to do is create a new currency called a mega-peso, worth US$23,000 and the Philippines will be the greatest economy on the face of the earth. Good luck pushing that theory.

Never-Again · 4 years ago 

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