Does Exchange Rate Indicate Economic Success?

Why Philippine government leaders, usually, look at

exchange rate as indicator of economic success?

Do you think Cuba is

economically successful

compared to US?

Do you think Papua is

economically successful

compared to Philippines?

Do you think South Korea is economically

less successful compared to Philippines?

Do you think Japan is

economically less successful compared to Philippines?

Well, Increasing or strengthening the Peso equivalent will have a

positive impact to Philippine economy but it will hurt the

Overseas Filipino Worker

Standard of Living must be the Indicator