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Php 44.11 to $1.00 USD


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Justin Kredible
Expect further strengthening.

 

I am in straight buy mode.

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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!

smokey

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.

 

 

 

you will get a better rate at raintree mall across the street behind bo coffee next to the holiday plaza...

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Try this link - http://www.bsp.gov.ph/index.asp

 

It is the Central Bank of the Philippines - a more official source

 

Not a good place for current information! Not updated regularly enough! Currency changes by the hour/minute! The banks give horrible exchange rates here for the most part.

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I found the most reliable and up to date currency information to had at Yahoo Finance. I'm not sure if this is only available for Oz, but I wouldn't think so.

 

It provides an update feed every 2 minutes and gives news and analysis of worldwide markets.

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Kodiak570

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.

 

Currently you're correct. The future is not is bright though:

 

Source: http://www.stansberryresearch.com/pub/reports/201112PSI_issue.html#continue

 

 

For decades, we have papered over these problems with massive amounts of borrowing. But now, our debts total close to 400% of GDP, and America is the world's largest borrower (after being the world's largest creditor only 40 years ago)... And the holes in our society can no longer be hidden...

 

We've reached the point where we will have to fix what lies at the heart of America's decline... or be satisfied with a vastly lower standard of living in the future.

 

The problem is we don't have a sound currency with which to measure GDP through time. Until 1971, the U.S. dollar was defined as a certain amount of gold. And the price of gold was fixed by international agreement. It didn't actually begin to trade freely until 1975. Therefore, the value of the U.S. dollar (and thus the value of U.S. production, which is measured in dollars) was manipulated higher for many years.

 

Even today, our government's nominal GDP figures are greatly influenced by inflation. The influence of inflation is particularly pernicious in GDP studies. You see, inflation, which actually reduces our standard of living, drives up the amount of nominal GDP. So it creates the appearance of a wealthier country... while the nation is actually getting poorer.

 

The only real way to accurately measure per-capita GDP is to build our own model. The need to build our own tools tells you something important -- the government doesn't want anyone to know the answer to this question. It could easily publish data far more accurate than the indexes it puts out. But government doesn't want anyone to know. And it wants to be able to say "those aren't the real data" when studies like ours produce bad news.

 

And because they can't "make it," many have decided to "fake it." The average college student now graduates with $24,000 in debt... and by his late 20s has racked up more than $6,000 in credit card debt. Meanwhile, median earnings for Americans aged 25-34 equals $34,000-$38,000. (Source: Demos.org, "The Economic State of Young America," November 2011.)

 

 

The 10 largest American bankruptcies in history have all occurred in the last decade: Lehman Brothers ($691 billion), Washington Mutual ($327 billion), WorldCom ($103 billion), General Motors ($91 billion), CIT ($80.4 billion), Enron ($65 billion), Conseco ($61.4 billion), MF Global ($41 billion), Chrysler ($39.3 billion), and Thornburg Mortgage ($36.5 billion).
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I remember in 2009 and 2010 the Euro was at 67 PHP. Today its at 56.2 PHP.

Edited by Faluango
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JamesMusslewhite

Come on 54......

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TheMatrix

The Euro is a disaster at the moment...

 

Yup, and it looks to be headed lower. I just shorted the EUR/AUD at 1.2376 with a target of 1.2110

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you mean you shorted a currency with hoping to make just 1.5%?

actually i'm going to turn things around and say the dollar is going to weaken that 1.5% against the euro 1st

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TheMatrix

you mean you shorted a currency with hoping to make just 1.5%?

actually i'm going to turn things around and say the dollar is going to weaken that 1.5% against the euro 1st

 

Yes, I sold short the Euro and bought long the Aussie with the hope of making 266pips. The difference between 1.2376 and 1.2110 = 266

 

$10.34 per pip X 266 = $2,750.78 profit.

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TheMatrix

actually i don't understand any of that how much do you have to put up?

 

That's trading a standard lot size of $100,000. With 50:1 leverage what most all Forex brokers offer, you would technically need to have a $2000 account to make that trade. However, I don't recommend leveraging out so much beyond 10:1.

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