Author Topic: could this be true?  (Read 5347 times)

Offline shortman

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could this be true?
« on: February 08, 2013, 08:45:22 AM »
Having coffee with a friend at the mall while Lar was shopping led to an interesting discussion concerning the exchange rate; First of all my friend Eli is no dummy, but i found it very hard to keep a straight face at what he told me (he was not joking)... He said that by mid february the exchange rate between the dollar and peso would be in the neighborhood of 45-47 peso to one usd... i always try to avoid disagreeing with anyone but rather respect what is being discussed unless my opinion is asked for to which in most cases i just say," we all have our opinions"...... However i will watch fervently to see if he knew what he was saying.............. lol.
Effective November 2014 this account is now being used by Lar, Shortman's widow.

Offline FMSINC

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Re: could this be true?
« Reply #1 on: February 08, 2013, 09:45:49 AM »
I doubt it, last night on the news they were speculating that the exchange rate would reach 37-1 USD and how it would effect exports and OFW remittances.

Expect this rate around November of this year was the forecast

Tom/ Roxas City

Offline Art, just a re(tired) Fil-Am

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Re: could this be true?
« Reply #2 on: February 08, 2013, 10:29:14 AM »
No one has a crystal ball that clear! So, it might not be true! ??? ::) :o
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline Gray Wolf

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Re: could this be true?
« Reply #3 on: February 09, 2013, 03:12:08 AM »
I wish it was that high!  But I don't see it going up much, if it all.  The dollar has to get stronger to have any real effect.  And I don't see that happening any day soon.   :(

I hope I'm wrong and that it recovers quickly, just before Christmas 2013!   ;)
Louisville, KY USA

Offline wildbill

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Re: could this be true?
« Reply #4 on: February 09, 2013, 11:01:29 AM »
I wish too just last 2010 in may it was 46plus

Offline FMSINC

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Re: could this be true?
« Reply #5 on: February 09, 2013, 03:55:33 PM »
In the paper


Peso seen to further strengthen vs US dollar

by Alvin Elchico, ABS-CBN News
Posted at 02/04/2013 10:19 AM | Updated as of 02/04/2013 7:05 PM

 
MANILA, Philippines - Financial analysts agree that the peso will further strengthen in the next few months, and may even reach the P37-P38 level to the US dollar by yearend.

First Grade Holdings managing director Astro del Castillo says the peso will further surge against the dollar, especially with the Philippines expected to get investment grade rating this year.

The peso closed at P40.595 in trading today.

According to del Castillo, despite numerous reforms, the US and European economies are still weak, thus the depreciation of their currencies.

In contrast, del Castillo says the Philippine economy is attracting more hot money as well as remittances from overseas Filipino workers.

Ideally, del Castillo claims that prices of imported goods should go down with a stronger peso.

But when asked why prices of fuel, which are imported, are about to go up anytime this week, del Castillo says that if the peso is not appreciating, the increase could be bigger.

Oil industry sources said gasoline increase for this week will hover between P1.10 to P1.40/liter while diesel is also going up by an estimated P0.40 to P0.60/liter.
 

Offline shortman

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Re: could this be true?
« Reply #6 on: February 09, 2013, 08:21:56 PM »
Well i guess if the "hot money" don't cool down and the "ofw remittance" don't decrease due to the fact other countries citizens can no longer afford hire them and have to decrease.................. then i believe the 37 to 1 will happen......... when i see my friend again i will ask him where or how how he came to that conclusion..................................lol.
Effective November 2014 this account is now being used by Lar, Shortman's widow.

Offline Lee2

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Re: could this be true?
« Reply #7 on: February 09, 2013, 08:55:21 PM »
I am going to guess it was wishful thinking and he really meant 35 to 37 but misspoke and was thinking with his hopes. My guess is that if it drops to 35, then a lot less people will move to the Philippines and some who came with a minimum income may have to leave or try to find a less expensive place in the Philippines to live, if at all possible for them.
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline Gray Wolf

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Re: could this be true?
« Reply #8 on: February 09, 2013, 09:27:59 PM »
Unfortunately I think you may be right Lee.  It will certainly affect those on the thin side of income.
Louisville, KY USA

Offline BudM

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Re: could this be true?
« Reply #9 on: February 10, 2013, 12:46:50 AM »
No.  It affects everyone of us in one way or another whether we can stay in the Philippines or not or whether we can go to the Philippines or not.  Unless of course you guys have so much money that you like throwing it away.  Tell me one person like us average Joe's who doesn't get a little more perturbed when you go out and buy something and the price keeps increasing?  I can still afford easily to live in the states but I am not.  And MM is I guess the most expensive area of the Philippines but it is still less expensive than where I am at.  Except for freaking electricity of course.
Whatever floats your boat.

Offline Art, just a re(tired) Fil-Am

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Re: could this be true?
« Reply #10 on: February 10, 2013, 08:41:07 AM »
Yeah, I haven't a clue how low the USD will plunge, but it sure did take a big cut into what we used to be able to save each month and the increase in our grocery and electric bill doesn't help any! I'm sure everyone else feels the pinch too, but IMO I don't feel it's serious enough to pack up and leave the Philippines just yet!   
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

 


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