Author Topic: How far down will the Peso go?  (Read 16317 times)

Offline rpfromlv

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How far down will the Peso go?
« on: October 20, 2010, 05:00:01 PM »
Hi everyone. I see a previous thread here about this but no one has commented since 2008. Anyway, the USD-PHP has slowly dropped from 1-46 this past summer to now hovering at 1-43 and change. I asked a money changer why it was going down, this is when it was 1-45, and he said something about the new Philippine president wanting to get it down. He predicted it would go to 1-42 by December. So far he seems to be right? Of course I hear lots of rumors too. Anyway, I know that no one has a crystal ball, but a lot of you guys have been here a long time, any opinions on where the peso is going? Thanks!

Offline BC Boy

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Re: How far down will the Peso go?
« Reply #1 on: October 20, 2010, 06:27:57 PM »
its the USD that is dropping the most wich in turn buys you less pesso per dollar

http://www.x-rates.com/d/PHP/USD/hist2010.html

Offline c_a_p_t_a_i_n_r_o_n

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Re: How far down will the Peso go?
« Reply #2 on: October 20, 2010, 06:33:13 PM »
It\'s the DOLLAR that\'s going down when exchange rate goes from 46 to 42.......NOT the PESO

If I had a crystal ball about where exchange rates would go, I\'d be a millionaire many times over





Offline rdjlazo@yahoo.com

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Re: How far down will the Peso go?
« Reply #3 on: October 20, 2010, 06:59:19 PM »
When U S $ get stronger you need more pesos to buy one dollar.
When this happens the importer buying U S goods and services
pay more pesos to buy dollars for their imports.
Good for the U S exporters bad for the Filipino importers;
We earning U S $want the dollar to be weakened so peso
exchange VS $ get favorable to us but not good for Pinoy consumers.
because Pinoys need more pesos to buy 1 US$.
I know it is confusing, I get confused too.
For us we want more pesos for one US$ and that is our
bottom line because we are U S $ spender converting
our $$ to pesos and the more pesos you have the more
Pinoy goods and services you can buy here.

Offline c_a_p_t_a_i_n_r_o_n

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Re: How far down will the Peso go?
« Reply #4 on: October 20, 2010, 09:59:55 PM »
I hold bank accounts in GBP, USD, PHP, EUR & CHF.......best protection for currency fluctuations

Wasn\'t planned that way but having worked in so many different countries....working out OK for me

Offline Alohalani

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Re: How far down will the Peso go?
« Reply #5 on: October 21, 2010, 07:56:46 AM »
I should have bought properties when the $=P55, or should have had a peso account instead of dollar... would\'ve...could\'ve...should\'ve...

Offline indigo

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Re: How far down will the Peso go?
« Reply #6 on: October 21, 2010, 09:43:19 PM »
Wait until all those Christmas remittances start rolling in and strengthening the peso, I think P40=$ is likely before the end of the year... ofcourse when the bills all start rolling in come January.... ;)

Offline bigrod

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Re: How far down will the Peso go?
« Reply #7 on: December 16, 2010, 01:37:51 PM »
$1 to peso currently 44.165 will see how it ends the day.† Possibly good exchange rate for Xmas shopping tomorrow. ;D

Chuck
Life is  to short not to live it right the first time

Offline richardsinger

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Re: How far down will the Peso go?
« Reply #8 on: December 16, 2010, 01:48:50 PM »
Forecast from DBS Bank in SIngapore is for the peso to reach $1 = P40.0 by end of 2011. Could be 44.0 by end of 2010.

Richard

Offline bigrod

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Re: How far down will the Peso go?
« Reply #9 on: December 16, 2010, 01:55:00 PM »
Richard that would be nice. ;D ;D ;D

Chuck
Life is  to short not to live it right the first time

Offline richardsinger

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Re: How far down will the Peso go?
« Reply #10 on: December 16, 2010, 09:36:04 PM »
Richard that would be nice. ;D ;D ;D

Chuck

Nice for some, not so nice for others Chuck. It is good to see the Philippine economy growing. But if your incoming money is in USD or other currencies then the rising peso means you dont get so many of them for your money.

Richard

Offline bigrod

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Re: How far down will the Peso go?
« Reply #11 on: December 16, 2010, 10:31:55 PM »
Richard if tomorrow is 44 pesos to the dollar I\'ll be happier than I have been for a while. I was not making my comment towards your statement on next years projected rate sorry if I confused you.

Chuck
Life is  to short not to live it right the first time

Offline PenthouseLife

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Re: How far down will the Peso go?
« Reply #12 on: December 17, 2010, 08:32:34 AM »
The U.S. has almost $15 trillion, yes TRILLION dollars in national Government Debt.† The world banker elites are motivated to loan to Governments because they are not required to have any collateral or reserves for these loans. So they get to kick back and pull in someties 36% (varies wildly) interest on 15 tril, well you get the idea. Now you understand why the Rothchilds of are worth $10 trillion and Goldman Sachs into the trillions now also. It\'s the world\'s richest 5 or 6 families enslaving the asses more and more as every year goes by. The hopelessness of our national debt and the stranglehold of these super rich families, will continue to weaken all currencies not backed by gold and silver.

Some say gold went up, not really, the dollar and peso both went down. If gold goes from $300 to $1500 then the dollar and peso free fall collapsed by 500% Shocking to think of it that way right? Well it should be more than shocking. But (i mean this in friendly locker room tavern bar kind of way) the sheeple just will never understand how Governments, billionaires, and banks enslave all of us.

When gold went from $300 to $1200, did you point it out to your employer and say, \'I\'m going to need a 400% pay raise to cover this spread.\"?

So the truth is that both the peso and dollar went down, the dollar thus gone down faster than the peso in recent times. The peso should be much less per dollar (38 to the dollar?) but the Philippines central bank admittedly is tagging it\'s peso to the dollar to protect import/export activity, news articles available just google them.

The United States is expected to introduce an alternative currency as part of this free fall collapse. IF this happens, then the world\'s billionaire (in a couple cases trillionaire) banker elites will get that Government trillions of debt paid off to them in GIANT LUMP SUM! Instead of 3.76 trillion in interest per year (estimated because Federal Reserve conducts this in secrecy), they would get the entire $15 trillion in one lump. We would have 30 days to exchange our dollars at one set rate, then 30 days at another rate, progressively getting worse for the dollar and at the end of the term set to trade over to the new currency, the dollar would literally be worth less than the paper it\'s printed on.

I think the Philippines is going to need to give up on pegging the peso to the dollar, and allow it to fluctuate based on market conditions. The dollar is in a free fall collapse, I wouldn\'t expect it to hit bottom until something radical happens with the 15 tril in debt. I\'m thinking about rolling around in pesos for a long while. Unless you need it liquid for the active use of it, silver, gold, and commodities are booming. Farming is the next super boom. Agriculturally grown fuels such as ethanol will continue to starve the world population and drive food prices up up and up.

Cheers from Ceboom <-- Cebu if One AWESOME city

Offline bigrod

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Re: How far down will the Peso go?
« Reply #13 on: December 17, 2010, 08:57:40 AM »
† Anyone can correct me but if I remember correctly people were saying in January 2010 that he Peso would be down too 39 to 1 by now.† Dick
Dick,

I think I rememember that prediction. Am very happy that todays rate is 44.15 peso to the dollar. ;D

Chuck
Life is  to short not to live it right the first time

Offline Hank S.

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Re: How far down will the Peso go?
« Reply #14 on: January 21, 2011, 08:24:12 AM »
King: Heck of a good idea to convert $\'s into Piso\'s. I\'ve been following the trend and since summer last year the $ has fallen from almost 47PHP to fluctuation in last 3 months 43.502 low to 44.718 high on 12-22-10

I\'m expecting it to bounce around these #\'s for aboiut 6 months then steadiely go down (according to past history chart) which is why my question what is the best bank on Mactan or Cebu City to unload my $\'s into a PHP account and have my SS direct deposited there.

 


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