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Php 44.11 to $1.00 USD


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With the downgrade of top European banks and the Euro crisis worsening, the U.S. dollar is becoming a safe-haven currency for the time being. We may see 50:1 again. That would be awesome, heh?

Try this link - http://www.bsp.gov.ph/index.asp   It is the Central Bank of the Philippines - a more official source

Back to 43.8 now. That didn't last long!

TheMatrix

With the downgrade of top European banks and the Euro crisis worsening, the U.S. dollar is becoming a safe-haven currency for the time being. We may see 50:1 again. That would be awesome, heh?

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MarinePride

You know the world is in crisis, financially, when the USD goes up on the index. My very first visit to PI, the rate was something like 25 pesos per USD. All fiat paper sucks, but the USD is only doing good because the Euro is going down the crapper, just like all paper currency eventually does. The only thing the USA has left is it's military and the USD as the worlds reserve currency, for now anyway.

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bepresentnow

I was able to get 43.85 from the exchange place across robinson in Fuente Osmena yesterday (friday 12/17). It's right next to the stairs to go on the overpass and the convenience store. It was amazing to be able to get the higher rate then xe.com, I've never seen it anywhere!

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The currency market is going up and down like a honeymoon nightdress at the moment.

 

The AUD is seen as a risky, commodity based currency. If Europe falls over commodity prices are likely to fall due to lower demand taking the AUD with them so money will flow back to the USD which is still seen as the only safe haven.

 

But yesterday the AUD was up nearly 1% against the USD, but down 0.5% against the PHP - go figure! Maybe its all the OFW sending money home for Christmas?

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But yesterday the AUD was up nearly 1% against the USD, but down 0.5% against the PHP - go figure! Maybe its all the OFW sending money home for Christmas?

 

Yes, thought the Peso usually strengthened the last couple of months of the year due to year-end remittances going up.

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  • 4 weeks later...

Any ideas where it's heading? Today it's just over 44 when I checked on google. Is this place near Robinson's not the one inside Robinsons in the food court at Fuente? I didn't know this place existed before as I never knew one to be located there by that drug store. I can't imagine it being such a safe place to be seen in (and seen coming out of) right in that area. I'll need to be exchanging a fair bit of money for pesos soon, so the rise is definitely welcomed.

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we won't be seeing 50-1 unless the philippine economy worsens quite a bit. i would say 46-1 is the highest it's going i doubt it will go further then 45.50-1

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Any ideas where it's heading?

 

If anyone really knew that they wouldn't be posting here. Some members were forecasting 35:1 not too long ago.

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agreed.i want to exchange money and if i new i'd wait till that day and exchange... just ask jim rogers he's a brilliant investor

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by the way 35-1 might come someday when the u s currency falls apart. there printing so much money it's going to devalue the u s dollar

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by the way 35-1 might come someday when the u s currency falls apart. there printing so much money it's going to devalue the u s dollar

 

Maybe, but there are so many other factors at work in both the local and global economies that is impossible to factor them all in. The US has been printing money like crazy, but along comes the European crisis and the value of the dollar has increased anyway. All it would take is a coup attempt in the Philippines to send the peso down the drain. There is no predicting any of this stuff.

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TheMatrix

The dollar is strong and getting stronger due to it being the world reserve currency and due to the current Euro crisis, the U.S. dollar is once again a "safe-haven" currency. Expect further strengthening.

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