Setting your OFS salary in your currency vs Filipino pesos #ytshorts

If we set it in Filipino pesos, we're going to send the appropriate amount of US dollars so they receive 40,000 Filipino pesos every month. There's no fluctuation for them. There's fluctuation for us. If we set it in US dollars. If we say we're going to pay you US$9,900 per month, the amount they receive is going to fluctuate according to the exchange rate. Now here's why this is relevant. When I first started hiring people in 2005, the exchange rate was 50 Filipino pesos dollar within a couple months. Within a year it went to 38 Filipino pesos to one US dollar. And I had no idea. I wasn't paying attention. I didn't really know. I didn't know anything about it. The US dollar was super weak at the time. And so I was still sending him US$500 or whatever it was at the time. I think it was about US$500. And he was, he was now receiving only the equivalent of US$400 because the exchange rate had changed so much.