Originally Posted by hogrider
I should have added that I'm transferring from UAE, not from the US. I get the XE rate. However, the point I was trying to make was that I think it's better to transfer a large sum when the rate is good, rather than have a $ account here and have to exchange locally when I'm shopping or whatever, when the rate won't necessarily be as good.
When we travel to USA (or other countries) we take dollars with us - no conversion from pesos to US dollars. When we arrived in 2012, the exchange rate was USD1 = PhP38. If we had our money in pesos, we could have incurred some losses.