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Peter C

peso to weakest level in over a year

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thebob

WTF I just saw on the board at Ayala the Scotland pound is 69 php it's a pound sterling grrrrrrrrrr lol

 

Ha! Nobody trusts those dodgy jock quids.

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POTATOMAN

if they take independence it will be worth a peso

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maccydee

if they take independence it will be worth a peso

But we have a good exchange rate it's a pound to a pound lol. It don't worry me I'm based in Essex for the last 20 yrs I'm the enemy from within now. I'm glad the peso is getting weaker to the £ & $ it means my money goes further when I'm back in march & have to pay out for the wedding costs.

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JamesMusslewhite

Come on 52.....

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GoHuk

 I still hold with my prediction of 50:1 for the US Dollar and 75:1 for Sterling by the end of 2015 if not by the end of 2014.

 

 

I made the original prediction in January 2013.  It seems I was too conservative.  Is 80:1 for Sterling realistic?  My gut tells me it's too high but then economic circumstance never remain constant.

 

The Dollar is lagging right now but will assert itself over the next few months.

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tambok

The Indian rupee was on par with the peso for a long time. Now, its at 61.47 to the $. Indians working in the West or the Gulf are happy as larks.

 

If peso goes down to 60+ , that will be a boon to a lot of expats.

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spooks

I made the original prediction in January 2013.  It seems I was too conservative.  Is 80:1 for Sterling realistic?  My gut tells me it's too high but then economic circumstance never remain constant.

 

The Dollar is lagging right now but will assert itself over the next few months.

I suspect that UK government sovereign will get AAA restored this year and that will be enough to take it to 80 by year end

Edited by spooks
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PeteHK

XE just gave the $-PHP mid-rate at 45.27. I think the scale of the impact of the earthquake and typhoon are having a significant effect on markets and all the talking up of the Philippines economy last year is quickly evaporating.  The $ will get stronger as the US moves rapidly to energy self-sufficiency and the economy picks up steam this year and next.  Sterling looks pretty strong too.  Can easily see 50 to the $ within 3-6 months. 

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Skywalker

post-12091-0-82831400-1390368114_thumb.jpg

 

This is the exchange booth by Rustan's Supermarket in Ayala Mall basement.  For those who have never seen it.

 

Consistently good rates.  As you can see from this morning, the £ rate is 74 pesos.  best I've seen in many years.

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GoHuk

Consistently good rates. As you can see from this morning, the £ rate is 74 pesos. best I've seen in many years.

 

 

Going up!  BPI rates as at 1:30pm, 22nd January, 2014

 

post-14483-0-55521200-1390368927_thumb.jpg

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Baywak

attachicon.gifARustans.JPG

 

This is the exchange booth by Rustan's Supermarket in Ayala Mall basement.  For those who have never seen it.

 

Consistently good rates.  As you can see from this morning, the £ rate is 74 pesos.  best I've seen in many years.

As you know,There is always  quite a difference between the one you have here in the picture and the booth on the ground level.The one in the pic is always the best.

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Fergie

Got 45.40 for US $ yesterday at rajha hotel on Fuente.

They never post the US price at that location. That bothers me I guess.

 

attachicon.gifARustans.JPG

 

This is the exchange booth by Rustan's Supermarket in Ayala Mall basement.  For those who have never seen it.

 

Consistently good rates.  As you can see from this morning, the £ rate is 74 pesos.  best I've seen in many years.

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Scottiev

just got 45.45/US$ at Park Mall...... very nice indeeed. Sure beats the 38 from last year

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dutchben

MANILA, Philippines - The Philippine peso is expected to continue to remain weak, according to think tank Global Source.

 

In a Philippine market report, Global Source noted the Bangko Sentral ng Pilipinas has a bias for weaker peso as an increase in demand for exports is projected this year.

 

"The hope is that the weaker peso would reverse some of the accumulated loss in competitiveness over the past 10-years versus trading partners, giving exports an extra boost just as demand in developed economies rises," the New York-based think tank said.

 

"We would not be surprised if it tests the P46/$ level in the weeks ahead," it added.

 

Global Source said it is "highly unlikely" the peso will go back to the P40 to $1 level.

 

"We think there is more than a even chance of the peso selling at around P43-P44/$ by yearend, particularly given what we think is a distinctive policy bias for a weaker peso," it said.

 

Global Source said the weaker peso will not affect the country's economic growth because of the BSP's robust foreign exchange reserve and payments position.

 

"Interest rates will remain low for a while, perhaps through midyear, which may mean continued currency weakness. Moreover, signals from the BSP are that expected increases in inflation will be manageable and thus, policy rats will remain on hold in the near term," it said, adding that it expects 50 basis points accumulative increases in key policy rates for the rest of 2014.

 

However, Global Source said the peso's path may be reversed when foreign funds start flowing for the reconstruction and infrastructure projects.

 

Bron abs cbn

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spooks

"However, Global Source said the peso's path may be reversed when foreign funds start flowing for the reconstruction and infrastructure projects."

 

Wonder why they think that will happen now as opposed to years ago?. there has not been any real structural reform to support this encouragement

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