CebuKano 1,751 Posted December 13, 2013 Share Posted December 13, 2013 (edited) While having lunch today in IT Park I noticed that the currency exchange booth on "The Walk" was offering 44.05 Philippine ₱ per US $. I haven't been keeping up with the exchange rate lately but this seems to be an improvement compared with what it's been in the recent past? Edited December 13, 2013 by Motörhead Link to post Share on other sites
tim 6,080 Posted December 13, 2013 Share Posted December 13, 2013 I had a friend who is staying in the Mango area, and he wrote he got 44.20 at Robinsons (Upstairs not the Department store) early this week. In the past the peso would always rise against the USD during Xmas times... so it is nice to see the USD getting stronger especially at this time of the year... as always, jmho 1 Link to post Share on other sites
quit_yume 1,003 Posted December 13, 2013 Share Posted December 13, 2013 oh i thought the exchange rate on the street would actually be higher than that.. is there a standard margin expected from the official exchange rate? Link to post Share on other sites
udonthani 2,027 Posted December 14, 2013 Share Posted December 14, 2013 71.65 for every 1 pound sterling today in Fuente. the peso has just taken a pasting because of the typhoon, mostly. just like we thought that it would. Link to post Share on other sites
Cebudog 977 Posted December 14, 2013 Share Posted December 14, 2013 You say the dollar is going up? Damn Obama!!! 2 Link to post Share on other sites
thebob 18,260 Posted December 14, 2013 Share Posted December 14, 2013 You say the dollar is going up? Damn Obama!!! Why do you want a strong dollar? That just makes the deficit more expensive to repay, and products more expensive for export. Link to post Share on other sites
Cebudog 977 Posted December 14, 2013 Share Posted December 14, 2013 Why do you want a strong dollar? That just makes the deficit more expensive to repay, and products more expensive for export. Because most of us live overseas and a strong dollar helps us. I like to look out for my own economic interests. 1 Link to post Share on other sites
ellenbrook2001 553 Posted December 14, 2013 Share Posted December 14, 2013 soon will be 48 pesos for $ 1 usa but the AUSSIE $ yuk going to be 38 pesos our idiot governor play politic now the liberal our in power he take decision to lower the AUD ???? grrrrrrrrrrrrrrrr bad for us. 4 Link to post Share on other sites
Skywalker 19,177 Posted December 14, 2013 Share Posted December 14, 2013 There is a blip due to the typhoon, but I think there is also a trend which will be apparent by the spring, when the Christmas returning OFW's have gone back overseas. As the West is beginning to recover from the 2008 crash, and the markets are picking up, I suspect that the hot money residing here in RP will evaporate from the Country. Any thoughts? Link to post Share on other sites
SkyMan 24,845 Posted December 14, 2013 Share Posted December 14, 2013 and products more expensive for export. The only thing we still export is empty containers. 1 Link to post Share on other sites
spooks 1,729 Posted December 14, 2013 Share Posted December 14, 2013 There is a blip due to the typhoon, but I think there is also a trend which will be apparent by the spring, when the Christmas returning OFW's have gone back overseas. As the West is beginning to recover from the 2008 crash, and the markets are picking up, I suspect that the hot money residing here in RP will evaporate from the Country. Any thoughts? at the risk of repeating my self "Posted 08 December 2013 - 06:35 PM Pesos usually strengthens this time of year.....NOT this year me thinks and it will start to slide as it is already too strong. There is precious little supporting the Pinas economy outside of its trafficked people sending back funds boosting consumption. The inward "flood" of FDI is but a pimple on an elephants behind when compared to peer group inflows. Pinas does not have much to lose when the trend reverses which is perhaps the only good thing. I see precious little of anything substantive like structural reform etc During 2014 most of ASEAN will be placed to benefit from ASEAN economic integration, due to lack of structural reform how much is the Pinas going to lose by NOT allowing freedom of movement across borders because 'Constitutional patrimony' gets in the way. a Malay consortium has already been shafted out of the Manila Hotel debacle. Not much will change without the 'hot potato' of Constitutional amendments being undertaken. Other ASEAN members have some legal issued to deal with and seem keen on doing so, Malaysia is tackling some of the anti competitive issues surrounding 'Bumi" policy. I fear that the Philippines is going to be a laggard because of political dullards carrying their own baggage. Pesos will weaken as it has done nothing yet to deserve being strong. The 'strength' has been entirely down to smoke and mirrors with major world currencies being in decline. The causes of global decline are receding. I suspect other ASEAN country's will take a hit but to no where near the extent of the Pinas as they have embraced structural reform and look forward to 2015 with optimism not fear and apprehension. I wonder if the Pinas guys really understand the importance and the important opportunities that ASEAN can bring." 3 Link to post Share on other sites
Admin (Retired) broden 57,117 Posted December 14, 2013 Admin (Retired) Share Posted December 14, 2013 The only thing we still export is empty containers. come on now.. no reason to be so hard on your fellow forum members 1 Link to post Share on other sites
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