It’s Your Money > Money Exchanging

How far down will the Peso go?

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rpfromlv:
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!

BC Boy:
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

c_a_p_t_a_i_n_r_o_n:
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

rdjlazo@yahoo.com:
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.

c_a_p_t_a_i_n_r_o_n:
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

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