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Soupeod

I remember when it was 20p to a dollar and a San Miguel from the sari sari was 5p.

 

 

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Paid in dollars, spending pesos...   Best retirement plan evah!

come on guys lets not forget the sorrow our European brothers felt for us when the Euro was flying high and we were hitting 39 to the dollar true they said ha ha ha but they did not mean it deep insid

Still depreciating, along with many other currencies.  All good, if you're paid in USD.   Damn, it feels good to be an American!   LOL

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HongKongPhooey
On 5/8/2021 at 10:57 AM, Kreole said:

Keep in mind that the rich do not pay taxes so they are not as affected. 

The top 1 percent paid a greater share of individual income taxes (38.5 percent) than the bottom 90 percent combined (29.9 percent). The top 1 percent of taxpayers paid a 26.8 percent average individual income tax rate, which is more than six times higher than taxpayers in the bottom 50 percent (4.0 percent)

https://taxfoundation.org/summary-of-the-latest-federal-income-tax-data-2020-update/

 

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Kreole
1 hour ago, HongKongPhooey said:

The top 1 percent paid a greater share of individual income taxes (38.5 percent) than the bottom 90 percent combined (29.9 percent). The top 1 percent of taxpayers paid a 26.8 percent average individual income tax rate, which is more than six times higher than taxpayers in the bottom 50 percent (4.0 percent)

https://taxfoundation.org/summary-of-the-latest-federal-income-tax-data-2020-update/

 

that is a fiction.  Yes they are supposed to pay but they have lawyers and accountants that are able to slip through loopholes not available to those without money. 

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Salty Dog

This thread is about the US dollar Peso exchange rate, let's keep the discussion focused on that.

If you want to discuss the politics of the US dollar and economy, please do it in the CR... :regler:

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Dafey

 

Quote

 

Peso sinks to P48:$1 level

The Philippine peso retreated back to the P48:$1 level on Monday, marking its weakest showing in over three weeks.

The local currency lost 12 centavos to close at P48.065:$1 from last Friday's finish of P47.945:$1. This is the worst performance of the peso since April 30.

Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort attributed Monday's depreciation to the remarks made by U.S. Federal Reserve officials.

"Some Fed officials, such as Philadelphia Fed President Harker signaled that the Fed should discuss reducing bond purchases sooner than later," he said.

Ricafort likewise noted that the peso has also weakened amid improving economic outlook as the NCR Plus bubble eased restrictions.

The NCR Plus bubble—Metro Manila, Cavite, Laguna, Rizal, and Bulacan—is under general community quarantine with heightened restrictions until May 31.

"Peso also recently weaker as better economic prospects with the easing of NCR Plus to GCQ (from ECQ) amid new COVID-19 local cases lingering among two-month lows and increased COVID-19 vaccine arrivals and rollouts," Ricafort said.

The improved outlook signals a pick-up in the economic recovery, as well as in importation activities.

https://www.msn.com/en-ph/money/economy/peso-sinks-to-p48-1-level/ar-AAKk6tb?ocid=msedgdhp

 

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BossHog

47.65 was a great opportunity to get money out of this country and convert it into real currency. Looks like the dollar is on an uptick now. Personally, I'd love to see 40 PHP/USD again but doesn't look likely anytime soon.

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lamoe
46 minutes ago, BossHog said:

47.65 was a great opportunity to get money out of this country and convert it into real currency. Looks like the dollar is on an uptick now. Personally, I'd love to see 40 PHP/USD again but doesn't look likely anytime soon.

I can see 40 PHP/USD  is good if a person's income is based on PHP - mine is USD so 52 would be much better for me.

Just checked 48.67

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samatm
On 5/9/2021 at 9:03 PM, Soupeod said:

I remember when it was 20p to a dollar and a San Miguel from the sari sari was 5p.

 

 

you are old as the chocolate hills my friend.    I only remember  it being 25:1   and  a  Jollibee Pancake breakfast with hot choco was 22P .   

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HongKongPhooey
1 hour ago, samatm said:

 

On 5/9/2021 at 9:03 PM, Soupeod said:

I remember when it was 20p to a dollar and a San Miguel from the sari sari was 5p.

 

 

you are old as the chocolate hills my friend.    I only remember  it being 25:1   and  a  Jollibee Pancake breakfast with hot choco was 22P .   

 

Look at this guy trying to do FX based on breakfast. Everyone knows the true exchange rate is based on beer.

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samatm

 

I was getting confused how a "stronger peso"  indicates a weak economy.  Here is an excellent short analysis on the PHP / USD   and the Philippine Economy.   It helped clear up a few of my questions.

 

 

https://www.rappler.com/voices/thought-leaders/analysis-why-stronger-peso-mirrors-weaker-philippine-economy

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RogerDuMond
1 hour ago, samatm said:

you are old as the chocolate hills my friend.    I only remember  it being 25:1   and  a  Jollibee Pancake breakfast with hot choco was 22P .   

And when I first came to the Philippines, it was 4 to 1.

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1 hour ago, RogerDuMond said:

And when I first came to the Philippines, it was 4 to 1.

They had numbers back then?

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