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U.S. Dollar down P46.57


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Using live mid-market rates. More currencies...

Printed from the XE Universal Currency Converter at: www.xe.com/ucc

 

Live rates at 2009.10.07 08:49:18 UTC

1.00 USD = 46.5766 PHP

United States Dollars Philippines Pesos

1 USD = 46.5766 PHP 1 PHP = 0.0214700 USD

 

Australian dollar up P41.66

British Pound P74.02

Canadian dollar P44.11

Euro P68.54

Edited by Wirraway
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isnt it what the peso buys that matters? Ok i remember when i bought a brand new VW in the us it cost me US 1,700 but of course i only earned US 1,75 an hour .. the exchange rate only matters on what

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smokey

not much we can do about that but just deal with it..

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When I first arrived in the Philippines, the USD to Php rate was something like Php 25 / $1 USD. So, 46 still looks okay to me. :biggrin_01:

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Using live mid-market rates. More currencies...

Printed from the XE Universal Currency Converter at: www.xe.com/ucc

 

Live rates at 2009.10.07 08:49:18 UTC

1.00 USD = 46.5766 PHP

United States Dollars Philippines Pesos

1 USD = 46.5766 PHP 1 PHP = 0.0214700 USD

 

Australian dollar up P41.66

British Pound P74.02

Canadian dollar P44.11

Euro P68.54

 

Strangely the UK Pound dropped from 79 to 74 pesos a couple of weeks ago but the $ stayed at 47 pesos at that time,

the UK pound seems to be steady at 74 peso's at the moment

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Strangely the UK Pound dropped from 79 to 74 pesos a couple of weeks ago but the $ stayed at 47 pesos at that time,

the UK pound seems to be steady at 74 peso's at the moment

 

I don't recall exactly what it was back then. But, in 2005, I believe the GBP was something over 100.

 

This is about the same time the USD went to 56 something.

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loosehead

When I first went to the phils Marcos was the president and the aussie dollar was worth 7 pesos. When I left in 1986 it was 13. In 2000 it was 25. Now over 40. The US$ is having a dip at the moment but the long term trend for those people with incomes from western countries is positive.

 

The english pound has really taken a dive. When we visited england 4 years ago the $A was 33 pence and the barmy army (english cricket supporters) had a funny song "3 dollars make one pound". Now it's 55 pence and less than 2 aussie dollars to the pound.

Edited by loosehead
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Using live mid-market rates. More currencies...

Printed from the XE Universal Currency Converter at: www.xe.com/ucc

 

Live rates at 2009.10.07 08:49:18 UTC

1.00 USD = 46.5766 PHP

United States Dollars Philippines Pesos

1 USD = 46.5766 PHP 1 PHP = 0.0214700 USD

 

Australian dollar up P41.66

British Pound P74.02

Canadian dollar P44.11

Euro P68.54

 

I'm wondering what triggers these rises and falls, maybe somebody allot more knowledgeable than me knows.

It just seems to me several weeks ago Gordon Brown was telling everyone the UK was pulling out of recession

(if you believe that you will believe anything), so confidence went up and the GB £ went up to 79 peso's, then last week I think people realized he was just talking it up, so confidence dropped and the GB £ fell back to 74 pesos.

 

Maybe its the same problem with the US $ but caused by what Barak Abama is saying?

Edited by Chaz
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Maybe its the same problem with the US $ but caused by what Barak Abama is saying?

 

Or, perhaps what the dumb ass is doing.

 

I do hope the USD to PHP will gain again. Honestly, I am content when it is around 50 to 55. I realize that we don't need the USD to go to 100, though, not in these times anyway.

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From todays Washngton Post

 

......"The U.S. dollar is headed for also-ran status, and it will continue to lose its value against many other currencies and assets," Miller Tabak equity strategist Peter Boockvar said. "The rest of the world wants the U.S. dollar to lose influence, but no one wants it to be abrupt, as it's in no one's interest. An evolutionary process is what is wanted."

 

The question is: When will that happen?" .........

 

Read the full article here good read:

 

http://www.washingtonpost.com/wp-dyn/content/story/2009/10/07/ST2009100700072.html

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GoneAsiatic

In the long term the deficit and historically mismatched trade imbalances will probably continue to drive the dollar lower. In the short-term, it is often affected by investor confidence. Lately there has been a negative correlation to the stock market, especially oil stocks, and the dollar. So when investors are risk averse, they buy Treasuries. When the stock market is more enticing, money flows out of Treasuries and into stocks. When investors lose on a lower dollar they often compensate by buying commodity stocks. At least that seems to be the way it has been working lately.

 

So I compensated by buying some foreign stocks, a lot of commodities, U.S. companies that derive a large part of their revenues from international sales, and U.S. companies that are export-oriented since U.S. exports become more affordable with a lower dollar.

 

Oh yeah, and I get paid in RMB which is always stable, at least until the Chinese government wants it moved anyway. It does not float to the extent that other world currencies do.

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JohnFromTexas

This is something I've been thinking about a lot myself and unfortunately I can't see much of a way out of the mess that is coming our way with the dollar. The only reason it is as high as it is is that so many other countries are in recession as well or things would be even worse. The government and central bank have been able to finance their debt spending SO FAR by selling Treasury bills. The problem is they are fast approaching the limits to this, and if government spending and bailouts from the central bank aren't reigned in soon, they are going to have to start printing money to pay for these things. When that happens, you'll see a massive devaluation of the dollar and that's what China and other countries who use the dollar as a foreign reserve are very worried about. It really depends on what happens with the economy in 2010. If we can sustain minimal to moderate growth and continue recovery and the congress can show ANY restraint in spending (please blue dog democrats PLEASE), things will be ok and get better for the dollar. If we go into a double dip recession as some economists are predicting and/or the government keeps doing massive spending the way it has been, the dollar is SCREWED.

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Well relative to the Swiss franc and the Euro the Dollar has been going down for the last 8 years or so.

You certainly can't blame that on Obama.

The trade deficit and the debts have been built up over years and years.

If the rest of the world decides to use something else than the $ for trading oil etc. it will really go down.

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JohnFromTexas

Who blamed obama? He's done his part but the congress is where the actual budgets are passed. The decline of the last few years will be nothing compared to the future if nothing is done to change the present course we are on. I may have to start focusing on european markets more for my businesses as well :thumbsup:

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Who blamed obama? He's done his part but the congress is where the actual budgets are passed.

Supposedly the congress passes budgets, but they are increasingly giving the solute to the president for anything he asks for. There is a fundamental breakdown with the federal government. The are way out of their mandate and should not have nearly as much power to do the things they are doing.

 

Another issue with the US is that they set a deficit cap, but every time they run out of money they raise the cap. Why have a cap? It blows my mind that all those government employees think that it makes total sense to spend 2 trillion more than they bring in every year. Not a single family or company could manage their finances so recklessly, and the debt build up will bit the country in the ass sooner or later. I think what California is going through now, the country will go through in a few years.

 

It wouldnt surprise me to see the exchange rate at 2 dollars to the peso some day in the future. :D:thumbsup:

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