Jump to content
OnMyWay

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

Recommended Posts

It just keeps powering up!  53.21 on XE now!

Share this post


Link to post
Share on other sites
1 hour ago, OnMyWay said:

It just keeps powering up!  53.21 on XE now!

:6:

Share this post


Link to post
Share on other sites

My local SM was giving 52.75 per $1USD at noon yesterday.

Share this post


Link to post
Share on other sites

It got up to 53.33 before falling back to 53.27 now.  Usually in the past when I tried to find news about the peso, it was hard, but now there are a lot of articles.  Google Philippine Peso News.  Some tidbits.

-  U.S. Fed raised interest rates and probably prompted this latest upswing

-  The Philippines infrastructure program "build, build, build" is causing imports to exceed exports, which apparently weakens the peso.

-  Inflation hit 3.9% in Feb, still within the government target of 2-4.  Nobody seems concerned.

-  Philippine exports are more attractive when the peso is weak

-  OFWs send more $ home when the rates are high.  OFWs and their families love the weak peso, even with the related inflation.

- Peso is the weakest Asian currency and that is expected to continue, but no concerns.

  • Like 1
  • Hmm thinking 1

Share this post


Link to post
Share on other sites

Sorry to keep posting about this, but now it is 53.44 on XE.  Amazing run!

When I moved here on October 20th, 2012, the rate was 41.40.  So, since then it has appreciated 29%.  Even with the inflation factor, that has helped our finances tremendously.

 

  • Like 1

Share this post


Link to post
Share on other sites

I paid P1,100,000.00 cash for my truck a couple of years ago! Damn I wish it was P53 at that time LOL!!

  • Like 2

Share this post


Link to post
Share on other sites
6 hours ago, russellmania said:

I paid P1,100,000.00 cash for my truck a couple of years ago! Damn I wish it was P53 at that time LOL!!

Ah but what is the price of the truck now.

  • Like 1

Share this post


Link to post
Share on other sites
1 hour ago, Gary D said:

Ah but what is the price of the truck now.

Im not sure, I havent check on the resale value of a 2015 Nissan Navarra

Share this post


Link to post
Share on other sites
2 hours ago, Gary D said:

Ah but what is the price of the truck now.

Actually, with pickup trucks, a 2015 retail price might be about the same or less that a 2018 retail price.

The new tax laws lowered the prices on 2018 pickup trucks, compared to 2017.

Share this post


Link to post
Share on other sites

Exchanged today for 53.26 at Villarica.  It was 53.35 on XE when we left the house.  The rates were recently higher but today was convenient and I needed pesos to pay school tuition.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×