udonthani 2,027 Posted June 18, 2013 Share Posted June 18, 2013 xe.com has it 67.74. That is the most it has been for five years at least. It's gone up by around 10% in the past three months. Link to post Share on other sites
Skywalker 19,178 Posted June 18, 2013 Share Posted June 18, 2013 That is the most it has been for five years at least. In April 2011, when I transferred the cash from my UK Bank (Barclays) to pay for my condo, the rate was slightly over 71 pesos to the £. Link to post Share on other sites
udonthani 2,027 Posted June 18, 2013 Author Share Posted June 18, 2013 I haven't got over 65 between October and March since 2008. in Thailand you would usually get more baht for a pound in the northern hemisphere summer months like June and July. That may be a pattern in the Philippines too. Link to post Share on other sites
Skywalker 19,178 Posted June 18, 2013 Share Posted June 18, 2013 In my experience, changing your cash for currency, in-Country gets you a better rate. Last week a moneychanger in JY (near to IT Park) was offering 67.90 to the £. Link to post Share on other sites
udonthani 2,027 Posted June 18, 2013 Author Share Posted June 18, 2013 (edited) yes you can always get a better rate inside than what xe.com says. I have never bought baht, ringgit or pesos outside those countries. There is no need. From a UK forex shops, even in London where the rates are best, it will still probably be less than 60 right now. The rates at Mactan airport are really bad, much worse than NAIA or Clark, however even there they will be better than in the UK. Edited June 18, 2013 by udonthani Link to post Share on other sites
Skywalker 19,178 Posted June 18, 2013 Share Posted June 18, 2013 I am currently in London, and the rate I am being quoted by my London based FOREX chap is 67.30 right now. I literally just got off the 'phone to him. Link to post Share on other sites
GoHuk 369 Posted June 18, 2013 Share Posted June 18, 2013 BPI offering 67.6 for FX from a BPI Europe a/c as at the time of this post. Link to post Share on other sites
David_LivinginTalisay 1,115 Posted June 18, 2013 Share Posted June 18, 2013 (edited) Just type the Currency Pair,followed by =X intoa browser and hit enter ie GBPPHP=X and this will bring up http://finance.yahoo.com/q/bc?s=GBPPHP%3DX+Basic+Chart GBP/PHP (GBPPHP=X) -CCY 67.4990 0.1457(0.22%) It was previously above 67 on-until Sep14, 2012 to Oct 01, 2012 It has generally been above 70 on the FOREX Market util April 26,2010. Since then it has not hone significantly above 70, nor for significantly long periods either. It was the LOWEST (since before Dec 2003) of under 61 on Mar 4, 2013 It was the HIGHEST of 108.83 on Nov 24, 2004 Edited June 18, 2013 by David_LivinginTalisay Link to post Share on other sites
philuk 3,704 Posted June 18, 2013 Share Posted June 18, 2013 it was around the 100 mark when i got married there 7 years ago hope it goes up some more before november, it will save me a couple of grand Link to post Share on other sites
Skywalker 19,178 Posted June 18, 2013 Share Posted June 18, 2013 BPI offering 67.6 for FX from a BPI Europe a/c as at the time of this post. I spoke to the London office this afternoon. They charge £5 (about 340 pesos) to transfer funds to your BPI account in the RP. Link to post Share on other sites
SirMadrigal 340 Posted June 18, 2013 Share Posted June 18, 2013 (edited) Does the pricing locally of good and services have no correlation though? I remember before the crisis in 2008 1 USD was about 4 UAH (Ukrainian Grivna), post 2008 it has been fairly stable at 8UAH to 1USD (with heavy manipulation from the Ukrainian side or so it would seem) however it didnt make living in Ukraine really any cheaper, everything just went up in price. I have to imagine if the PHP drops too much against the G7 currencies prices would simply go up in PH for everyone. Edited June 18, 2013 by SirMadrigal Link to post Share on other sites
GoHuk 369 Posted June 19, 2013 Share Posted June 19, 2013 I spoke to the London office this afternoon. They charge £5 (about 340 pesos) to transfer funds to your BPI account in the RP. ... and it's transferred instantly. 1 Link to post Share on other sites
GoHuk 369 Posted June 19, 2013 Share Posted June 19, 2013 Does the pricing locally of good and services have no correlation though? I remember before the crisis in 2008 1 USD was about 4 UAH (Ukrainian Grivna), post 2008 it has been fairly stable at 8UAH to 1USD (with heavy manipulation from the Ukrainian side or so it would seem) however it didnt make living in Ukraine really any cheaper, everything just went up in price. I have to imagine if the PHP drops too much against the G7 currencies prices would simply go up in PH for everyone. Yes, there is a correlation although these days you should not restrict the mechanism to G7 currencies, China must be included as well, Most onerous is that the Philippines imports all of its petroleum products, mostly refined, which are priced internationally in USD. Any strengthening of the USD is automatically (and seemingly instantly) reflected in pump prices. This price increase quickly works its way into the transportation costs of goods and hence consumer prices. Link to post Share on other sites
SirMadrigal 340 Posted June 19, 2013 Share Posted June 19, 2013 thats what i would have assumed thus a weak peso is not necessarily a good thing in many ways, im assuming electricity is also mainly diesel generated? Link to post Share on other sites
GoHuk 369 Posted June 19, 2013 Share Posted June 19, 2013 (edited) thats what i would have assumed thus a weak peso is not necessarily a good thing in many ways, im assuming electricity is also mainly diesel generated? I'd be interested in the answer to this. I have asked Filipinos who should know but have yet to receive an answer. There is some hydro-electric generation and a wind farm was recently built in, I think, North Luzon. Otherwise it's good old fossil fuel. Edited June 19, 2013 by GoHuk Link to post Share on other sites
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