The New Peso Rate

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Posted
http://business.inquirer.net/money/breakin...les-stocks-dropPeso tumbles, stocks drop Recession fears replace inflation worries The peso tumbled Monday to 47.43 to and closed near the day
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Posted
http://www.manilastandardtoday.com/?page=b...ess1_oct22_2008Peso falls to 18-month low. It closed 48.28 yesterday THE peso fell and approached its lowest level in 18 months on speculation slowing economic growth will shrink company earnings and deter overseas investors. Government bonds declined.
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Posted

48.70 last night at Robinson's.

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Posted (edited)

Here it is this morning ... 49.08 .......... someone on the AC2 board said their brother got it at 50 something in Manila last night ...... but I kinda doubt that ........ but then who knows ......... do I here 50 ........ post-11-1224728499_thumb.jpg

Edited by Mike S
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Posted

Buy while stocks of $ last.I kid you not because when the credit turmoil eases out the $ will fall. At the moment banks are, well banking $'s. So there is a shortage believe it or not. When credit starts to flow, the interest rate is reduced to 1 % and inflation rises, the dollar will fall.This is not a dig at the dollar - look at sterling, lol

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Posted
Buy while stocks of $ last.I kid you not because when the credit turmoil eases out the $ will fall. At the moment banks are, well banking $'s. So there is a shortage believe it or not. When credit starts to flow, the interest rate is reduced to 1 % and inflation rises, the dollar will fall.This is not a dig at the dollar - look at sterling, lol
John, when do you think that will happen? I know you do not have a crystal ball, but your best guess.
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Posted
Buy while stocks of $ last.I kid you not because when the credit turmoil eases out the $ will fall. At the moment banks are, well banking s. So there is a shortage believe it or not. When credit starts to flow, the interest rate is reduced to 1 % and inflation rises, the dollar will fall.This is not a dig at the dollar - look at sterling, lol
John, when do you think that will happen? I know you do not have a crystal ball, but your best guess.
I do believe John is right on in regards to the dollar but i would not look for a substanial reduction by years end . Commodities are still traded in dollars so everyone needs them . I do look for the US interest rate to be at least down to 1% and probably 0.75 by Nov . Asian countries have serious inflation issues including the Philippines of course . But then the Philippines has so many issues that's probably another thread within it's self . :SugarwareZ-037: God i love these Emoticons
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Posted

I don't think the peso has gone as low as it will.

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Posted (edited)

Sorry for delayed reply - had a long weekend in Leyte with Bob and the girls.I agree with Allan that next year will be crunch time - perhaps starting by Christmas through to March 09.As credit starts to flow again and commodities continue to fall as the recession takes hold there should be less demand for the US$ especially as US growth will be negative and inflation will skyrocket. The strength of the Yen will be significant.I see the Philippines national bank and politicians continue to bury their heads in the sand. It amazes me that they think they can just talk their way out of it. The market however thinks otherwise. Today from Bloomberg:- Oct. 27 (Bloomberg) -- Asian stocks tumbled for a fourth day, led by the Philippines, on concern government measures will fail to support growth and prevent more emerging market economies from seeking bailouts from the International Monetary Fund. Philippine's benchmark index plunged 12 percent, triggering a temporary trading halt, after Ukraine became the fifth nation to ask for IMF help. South Korea's Kospi Index fell 3 percent, paced by Hyundai Heavy Industries Co., as a record interest-rate cut spurred concern the country's economic slump will be more severe than expected. Mitsubishi UFJ Financial Group Inc. slid 11 percent after the Nikkei newspaper said the bank will need to raise funds. ``This is a bloodbath,'' said Jonathan Ravelas, chief market strategist at Banco de Oro Unibank Inc., which has more than $6 billion in trust assets under management. ``The market continues to focus on the negative economic effects of the financial crisis instead of the actions taken by governments and central banks to restore confidence.''Trading on the Philippine exchange was suspended for 15 minutes after the benchmark index sank by 10 percent, the steepest decline since October 1987. The index closed down 12 percent. Banco de Oro Unibank Inc., the second-largest Philippine bank, lost a record 19 percent to 23.75 pesos after its nine- month profit fell.The Philippine currency slid for the fifth day against the dollar on speculation overseas investors will continue to cut their holdings of the nation's assets. The peso fell 0.7 percent to 49.335, bringing this year's loss to 15 percent.

Edited by johnrxx99
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Posted

Php 50 to $1.00 USD, this morning.

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