Rates Are Up! Get Your Dollars Out From Under The Mattress!

[Reboot]

If you want to convert USD to PHP or buy PHP denominated assets may want to consider doing it soon. Both Yellen and Trump are saying the USD is too strong. 

Edited January 24, 2017 by Reboot

[robert k]

3 hours ago, Reboot said:

If you want to convert USD to PHP or buy PHP denominated assets may want to consider doing it soon. Both Yellen and Trump are saying the USD is too strong. 

Sucks to be me, I'm indispensable where I am right this moment which is not where I could spend some pesos.

[OnMyWay]

50.11 on XE right now!  I finally have some USD when it is over 50 so I will go down to BPI on Monday morning to see what I can get.

[intrepid]

7 hours ago, OnMyWay said:

50.11 on XE right now!  I finally have some USD when it is over 50 so I will go down to BPI on Monday morning to see what I can get.

Friday we exchanged some for construction.  XE showed 50.13     BPI rate was 49.65, ForEx next door money changer was 49.75

Pawn Shop one block away was 49.90

[AlwaysRt]

2 hours ago, intrepid said:

Friday we exchanged some for construction.  XE showed 50.13     BPI rate was 49.65, ForEx next door money changer was 49.75

Pawn Shop one block away was 49.90

I did my occasional 2 - p20,000 withdrawals from BPI ATM using my Schwab debit card today. The rate was 50.07

[OnMyWay]

Rates jumped today.  This morning XE was 50.11 so I decide to exchange and went to BPI after 0930, as that is when the Manila trading starts.  BPI had 50.00 posted on the counter and when they called to get the best rate, I got 50.05.  When I got home, XE was at 50.19 but settled back to 50.16 now.  The charts say it was over 50.20 for a while.

[intrepid]

We tried the best rate two times in the past at our BPI.  Both times it was .20 less than the pawn shop which is just a few steps down the street.  For the large sums we are exchanging for our construction, it is worth to half minute walk.  Yesterday we got 50.19 and smiled all the way back to the bank to deposit the pesos!

[OnMyWay]

1 hour ago, intrepid said:

We tried the best rate two times in the past at our BPI.  Both times it was .20 less than the pawn shop which is just a few steps down the street.  For the large sums we are exchanging for our construction, it is worth to half minute walk.  Yesterday we got 50.19 and smiled all the way back to the bank to deposit the pesos!

That is great!  Make sure you do it safely.  Have you thought about asking the pawn shop staff to come to the bank?  Some members have said that they have done that.

[intrepid]

10 minutes ago, OnMyWay said:

That is great!  Make sure you do it safely.  Have you thought about asking the pawn shop staff to come to the bank?  Some members have said that they have done that.

We have thought of asking but so far have just been very careful.  We will need to make two more exchanges in the near future and very the way and time we do it. I suppose we will continue as in the past.  Thanks for the concern.  Always good to be reminded,  either here or home country when dealing with large cash.

[jpbago]

17 hours ago, OnMyWay said:

That is great!  Make sure you do it safely.  Have you thought about asking the pawn shop staff to come to the bank?  Some members have said that they have done that.

Yes, we did that once when we returned from Macau. We went to a Bank of China or China Bank and the cashier called a money exchanger in who gave us a better rate than the bank could, in yuan to pesos. We gave her the yuan, she counted it. He gave her the pesos, she counted it and gave it to my wife. She counted it and gave it to me. Security got me a taxi.