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Peter C

peso to weakest level in over a year

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rfm010

 

 

"However, Global Source said the peso's path may be reversed...

 

Wonder why they think that will happen now...

 

 

 

it's not so much that they think it will happen as it is a case of there always has to be a "however,...".

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wacobay

it's not so much that they think it will happen as it is a case of there always has to be a "however,...".

The Financial guru Bernard Baruch was supposedly asked once what he thought would happen to the U.S. stock market in the future and his answer was" It will fluctuate". I suspect the same is true of the peso/dollar rate. It would be nice to get back to that 56/1 though. Thanks for reading..

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philuk

74.97 to 1 GBP

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ellenbrook2001

well no any sentiment in the market could show the PH pesos should rise they employment his very hight has the $ going higher and higher until he come down again the surge his to fast  ? i cannot see any momentum on the pesos he may come down again?i hope so anywhere lol.

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tambok

Ahh, but they do come from.this country to mine and are free to say what they want about whatever they.want. Hell we even give them a passport and the right to vote in very short time. They can buy land before they even arrive.

 

Whether I like it or not isnt very relevant.

 

Sent from my GT-I9505 using Tapatalk

When I was in Thailand, the same gripe was about Thais. Oh, they can come to our country and buy land but we can't in theirs. And they can say anything we want but we can't.

 

My view on it is this: it's not Thais'/Filipinos' fault that we are suckers.

 

But then, are we really suckers? Real estate taxes in the USA are huge. And they can't take the land out of the US. You don't pay tax, bye bye! Money into the state/fed coffers.

 

Real estate prices are also quite high on average in the US/ the West.

 

And also, it's not their fault that we allow anyone to say anything.

 

But the most important distinction is- just about all of us can go and live in many countries in SE Asia with relatively modest means. Especially in the Philippines we can get all these visas even if we are not rich. We basically just walk in. They can't.

 

To enjoy all those rights in the US/ the West, you need to be able to get there. But very few Filipinos percentage-wise can ever get a visa to go and live in the West/US. Even tourist visas are rejected daily. And the US gov't keeps the money whether you get the visa or not.

 

The visa backlog at the US Embassy is some 16 years long last tiime I heard. There are parents in the US who try and petition their kids and die before the kid arrives in that  Land of the Free. So, only the rich, the husbands/wives/fiancees of US citizens and some very select professions are allowed in. And those who get to win the lottery or go into the armed forces. And that takes a long time. Citizenship in the US is no longer as easy or quick to get as before.

 

Admittedly I don't know how easy it is to get into Canada. I'd imagine not easy.

 

I'd say that over 90% of Filipinos will never see the US or anywhere in the developed world and never get the visa to go there to buy property, have a gun, enjoy the 1st Amendment, get student loans, etc. The Filipinos we see in the US are really a small trickle of select few.

 

I like to look at the bright side- if foreigners were able to buy property in the PH, then it would not be us, common folks first that would buy those. It would be huge Korean, Chinese, Japanese and US real estate companies. We, along with Filipinos,  would be left in the dust.

 

And some expats even said a callous thing- they pray and hope that the country stays poor and disorganized and have a bad reputation. This way expats are welcome and the locals are humble and hospitable, And prices are low. Because if it starts prospering, the locals will become stuck up like the Thais or Malaysians are now, everything will become very expensive and we will kiss our comfortable lives good bye. The perverse part of me agreed with them.

 

The Japanese, when poor, were very friendly and respectful of any foreigner who went there to live. Same with Thais. As these started getting richer, they became less and less hospitable and began treating foreigners with hostility.  So, you may want to think twice about wishing the Philippines to prosper unless you are sure you will become a citizen. You may not find yourself to be welcome anymore.

Edited by tambok
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smokey

soap box's not allowed in the peso thread 

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CardiacKid

"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

Other than relief funds, I don't foresee any foreign investors clamoring to  obtain contracts for reconstruction and infrastructure projects. Current president has only three years to go, and when he leaves office there is a haunting suspicion that contracts signed by his administration might be challenged. The memory of NAIA Terminal 3 has to be in the minds of foreign investors. 

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Durham

Go Pound Go :yahoo:

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panther

the pound actually hit 75 yesterday for a short period .my main concern is the u.k interest rates are about to go up which will wipe out any monetory gain i,m enjoying here because of the mortgage payments on my house .so I can,t really get too excited about the pound riding high.

Edited by panther

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ed villas

this news article says it may even go higher.for those who live here this would be good news

:wave:

http://www.abs-cbnnews.com/business/01/22/14/philippine-peso-may-test-p46-level-dollar-think-tank

 

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.

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philuk

75.03 - 1 GBP   this am

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JohnSurrey

GBP at 75 PHP today...

 

10 years ago you could get 100 PHP for your pound...

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Baywak

GBP at 75 PHP today...

 

10 years ago you could get 100 PHP for your pound...

In 2006  56P=$1.00

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Durham

GBP at 75 PHP today...

 

10 years ago you could get 100 PHP for your pound...

Whoo there mate 8 years ago I was getting 107 to the good old Brtish pound.

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philuk

Whoo there mate 8 years ago I was getting 107 to the good old Brtish pound.

 

it was over the hundred when i got married there 7 1/2 yrs ago, them were the days,

 

wish i had bought a lot then, when they were around 3500 square meter, the one i just bought was 6500.

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