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USD to PHP - a constant thorn in my side


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http://www.stock-trading.me/2011/04/prediction-of-us-dollar-vs-philippine-peso-in-2011-2012-and-2013/

 

 

 

Looks like a lot of wishful thinking on the part of the author and those with added comments. Seems like the long term trend of a slow, steady decline goes on and on with only the occasional short lived uptick. As my savings for building a new home grow with time, they are simultaneously eroded by the ongoing decline of the exchange rate. Makes me want to throw in the towel sometimes, but I'm addicted to the notion of having a house with a seaview. So until that day arrives, the irritation continues.

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know where you are coming fromham,

 

We paid a deposit on a realy nice piece of land earlier this year, when we came to send the money over, the pound dropped,

 

next payment due in feb and the final payment 8 months later, and i can guarantee it will drop again just in time for each payment to be made,

 

But like you we will continue to follow our dream

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That is one plus, I have to admit, about living in Cambodia. Until earlier this year, I never knew that ATMs dispensed USD, and many purchases - most in fact, can be made direct in USD. Of course, that still does not help those who use other currencies. Still, I am not sure why there are not more Americans living here, because of similar reasons. Either way, it is nice to be using one currency, most all of the time, and to not get charged for having to change from one currency to another. Oh, no ATM fees here either, if using Canadia Bank ATMs..

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Some banks will extend to a customer a preferred rate when making an exchange transaction. It is a decision of the manager. The difference between the rate at the teller and the one of the manger can be a couple of pesos. For a large amount of foreign currency, that can be significant. However, it is not likely the rate will be offered each time. I have asked for and received a better rate on some occasions when I was making a larger than normal transfer.

 

I had a coworker once who wanted to make some extra cash when there was a fluctuation in the French franc. He outsmarted himself. He went into the bank, ordered the currency, had to wait a day and went in to discover he was getting Swiss francs. Whoops!

 

 

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MattFromGA

The article is dated from 2011. 2012 is just about over and still sitting at 41. The article is bunk.

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USMC-Retired

After the election if Romney is elected we will see a short window of bounce. Maybe 44 or so but then right back. If Obama is elected we just continue on.

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That is one plus, I have to admit, about living in Cambodia. Until earlier this year, I never knew that ATMs dispensed USD, and many purchases - most in fact, can be made direct in USD. Of course, that still does not help those who use other currencies. Still, I am not sure why there are not more Americans living here, because of similar reasons. Either way, it is nice to be using one currency, most all of the time, and to not get charged for having to change from one currency to another. Oh, no ATM fees here either, if using Canadia Bank ATMs..

 

 

But which country has more pluses?

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The article is dated from 2011. 2012 is just about over and still sitting at 41. The article is bunk.

 

 

Sakto - it is bunk or wishful thinking as I referred to it.

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MattFromGA

Let me tell you, it felt personal to me, like the market knew when I needed to do a conversion and it would send the exchange rate to the floor. When I first made the decision to be in the Philippines, the exchange rate was at 56 to 1. I felt like a millionaire. Of course, right after I arrive, the rate kept going down and down and down to nearly 40. Whenever I had the big $$ to transfer, the exchange would nudge down just a bit. When I was flat broke and ready to get paid, I'd drool at the rate going up.

 

I tell you what, the whole exchange rate BS is one thing I DONT miss about the Philippines.

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smokey

what drives me crazy is the reasons for the strong peso i just dont see it on the streets all this booming economy they keep talking about....

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Tom in Texas
After the election if Romney is elected we will see a short window of bounce. Maybe 44 or so...

 

Of course... everyone will be trading out of US$...

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In 2001 the Australian dollar was worth a little over 51 US cents....million dollars homes in Sydney were selling for half a million US, over the last decade and a bit the AUD has risen against the USD by over 100%

 

Sometimes things go in your favour, sometimes they don't...such is life...The end of the US empire is upon us, some are dealing with it better than others.

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Something to consider. One way to protect yourself from single currency fluctuations is to invest in emerging market bond funds. These funds buy bonds from several emerging market countries like Russia, Brazil, India, Phlippines, Malaysia, etc. This offers a degree of protection from individual currency fluctuations. Several bond funds have good rates of return and most make monthly interest payments. When you need money you can sell however much is needed (or just not reinvest the monthly dividends) and immediately transfer the money to your account. Clearly this won't be of assistance if you are living off a pension like social security.

 

Note: You should always perform your own due diligence prior to investing in anything.

Edited by Kaku
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know where you are coming fromham,

 

We paid a deposit on a realy nice piece of land earlier this year, when we came to send the money over, the pound dropped,

 

next payment due in feb and the final payment 8 months later, and i can guarantee it will drop again just in time for each payment to be made,

 

But like you we will continue to follow our dream

where abouts have you bought ?
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throttleplate

something to consider if you plan on moving to the ph is if you worry about the exchange rate then you probably arnt financially set up to live in the ph.Personally i never pay attention to the rate.If it goes to 20 -1 i will still be here.When i first moved to the ph in 2009 i put money into the bdo bank and the rate was 48-1 and it went down from there and i was concerned but realized what could i do about it?nothing but move to another country if it caused a hardship to my life.

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