Author Topic: value of the peso  (Read 4293 times)

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value of the peso
« on: June 19, 2009, 05:26:13 PM »
just wondering guys-has the peso taken a bit of a nosedive in value recently? my wife sent money home yesterday and it seems there was quite a bit more than usual when converted to peso [ we\'re in the euro zone] might this be a welcome trend over the next little while? I noticed something about the asian markets taking a dip recently, any opinions or predictions?

Offline geno555

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Re: value of the peso
« Reply #1 on: June 19, 2009, 06:26:08 PM »
my wonderful Irish friend, the pesos was up yesterday for almost half the day, but be careful don\'t let the bug catch you with pesos fever.

in 2004 when i came here the exchange rate was somewhere close to 58 at one point 57.9 one day and i went crazy, that why i suggest every one carry two bank accounts over here always keeping one in a us dollar account and not spending it except for emergency just in case the peso goes through the damn roof and then go covert all the us dollars to pesos.

you got to read the wires and papers everyday no not playboy you fool  but Forbes, the weekly standard, world banking report and of course must follow the currency market.

Currency trading is a very make or break field , I did fine at it myself for years until i got lazy and let the firm talk me into not trading on my own anymore which was an all day job but at least i was making money, I signed over 10 grand to my broker and in 6 months i was penniless,yes there was some bad times, but i rather lose my own money thank you....i suggest you read daily the leader market indicators and pray Korea or Iran don\'t bomb, Israel, for if they  do you better move here quick. my friend.

also subscribe and read everything you can on       http://www.xe.com/ucc/


take some of the free demo course where they will give you 50 grand to play around with to see how you do you find out it is time consuming but you can learn a lot about the currency markets, wall street is small potatoes who out moneys them every day 22 to one.

if you have any questions just asked


the murf

 so lets say just as a hypothetical situation  if i had 1,000,000.00 us dollars in the account at 2004 rates of 57.9 i would have .57 million 900 thousands pesos.


something to ponder.

murf

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Re: value of the peso
« Reply #2 on: June 20, 2009, 06:00:26 AM »
That\'s true Murf but what if the Peso went too 90 too 1 then you would have lost 32.1 million. I never chase the Peso, I do keep all my accounts in dollars. Dick

Offline c_a_p_t_a_i_n_r_o_n

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Re: value of the peso
« Reply #3 on: June 20, 2009, 04:57:32 PM »
just wondering guys-has the peso taken a bit of a nosedive in value recently? my wife sent money home yesterday and it seems there was quite a bit more than usual when converted to peso [ we\'re in the euro zone] might this be a welcome trend over the next little while? I noticed something about the asian markets taking a dip recently, any opinions or predictions?


Yep it\'s moved from about 63:1 to 67:1 against the euro in last 2 weeks

Offline geno555

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Re: value of the peso
« Reply #4 on: June 20, 2009, 07:31:16 PM »
That\'s true Murf but what if the Peso went too 90 too 1 then you would have lost 32.1 million. I never chase the Peso, I do keep all my accounts in dollars.
Dick


how true and accurate Dick, but I never had that much money in the dollar account to loose , i don\'t chase the dollar either but my accounts for the sake of my wife and family  are set up by the lawyer, now there is my first mistake  lol....to have something to fall barked on in case the USA collapses....i would well cash it in long time before it got to 90-1 for i have a stop loss order in my forex account.

i would never recommend the currency market to anyone, first place is you  cannot trade pesos anyway so it pretty hard to lose money on something that does not exist, and any time you playaround with currency funds you need either one of two things, a very rich backer or  a million dollars in the bank you can afford to lose, i have neither of these so i am shucks out of lucks and trading. that is when i was young and by myself i have a Filipino family that t i love to take care of now....time and I have changed...lol      :)

murf

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Re: value of the peso
« Reply #5 on: June 22, 2009, 01:03:21 PM »
Back in \'05 when the $$$ was taking a nose dive, I bit the bullet and exchanged a bunch to pesos, figuring if wrong, oh well.

4 years later, we are back to that mark again. But, things turn out to my advantage over time where one night, for a bit, the exchange hit 39.9 to 1.

At one time this year, the word came that the Government wanted the exchange at 50-1 making the Pinoy produces more attractive.

Maybe, things are headed in that direction? Make me no mind what it does. We live on and generate pesos
B-Ray

Offline jonnyivy

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Re: value of the peso
« Reply #6 on: June 23, 2009, 06:29:16 AM »
Aye leprechaun63,
                             I bin watchin the peso rate too, we might just get a bit more value on our visit there in January ??
( I aint forgotten about you bud !! )

Jonny
A True Friend Is Someone Who Sees the Pain in Your Eyes While Everyone Else Believes the Smile on Your Face

Offline newboy

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Re: value of the peso
« Reply #7 on: June 23, 2009, 07:23:45 AM »
Just my thoughts. If you live in the Philippines you live in pesos. I buy mine from the bank BPI where I have a dollar and a pesos account. It is a simple transaction. I try to catch  the exchange rate at 48-1 or better and then buy enough to keep me going for awhile. Remember 1 peso difference is 2%. :P
Vaughn

Offline c_a_p_t_a_i_n_r_o_n

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Re: value of the peso
« Reply #8 on: June 23, 2009, 03:27:16 PM »
I do similarly Vaughn - Wait for 65:1 for Euro, 72.5:1 for Sterling, and 50:1 for Greenback (been a while)

Offline dutch expat

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Re: value of the peso
« Reply #9 on: June 24, 2009, 08:49:06 AM »
For the Euro you don\'t have to wait  ;D   

Seen on Oanda.com : 
1 Euro = 67.60495 Philippine Peso
1 US Dollar =  48.48840 Philippine Peso

Offline c_a_p_t_a_i_n_r_o_n

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Re: value of the peso
« Reply #10 on: June 24, 2009, 04:40:10 PM »
For the Euro you don\'t have to wait  ;D   

Seen on Oanda.com : 
1 Euro = 67.60495 Philippine Peso
1 US Dollar =  48.48840 Philippine Peso


I didn\'t!  ;D

Moved some last friday and probably more this friday while it\'s still so high

Been moving Sterling (£) since beginning of May

Here\'s my \"watchdog\"

http://finance.yahoo.com/q/bc?s=EURPHP=X&t=2y&l=on&z=m&q=l&c=

 


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