Peso Rate Compared To Others

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Posted (edited)

If you have made the Philippines your home but still have your only income coming in is from your old country and its in that currency, what happens when the rate falls,

Yes I know your money will get less, so what do you do about it.

Have many got income coming in from the Philippines in that case then the peso is going to be the same rate,

Like I have said many times I do not intend to work or invest any cash into some thing I think will not make a return, Ems would like to build rental units at the back of the house but the cost and the return plus the friend rates even the extended family rates moving into them frightens me so its a none starter for now.

So it seems all my income will be in Stirling, I have a rough idea what I may have in savings plus what is coming in each month but what would happen if the rate dropped so much,if the rate drops below 50 peso to the pound it would be hard to plan my future there, but like anything in life there are ups and downs

Edited by stevewool
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The rate has fallen by around 5 peso in the pound in the past few months. I have been moving over, from my sterling account, some large amounts for a house build. It is costing me over £200 more for the same amount three months ago. This drop happened the same time last year, that I put down to pre election jitters. This year it's the culmination of Osborne's incompetence, so who knows where it will end up. If the rate drops massively then I will have some concerns....

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Posted
if the rate dropped so much,if the rate drops below 50 peso to the pound it would be hard to plan my future there,

 

One thing we do Steve (when possible) is when our rate goes way up, we will dip into our emergency fund and convert as many $ as possible, put them into a peso savings account for our future allowance and restock our emergency fund over time, besides the banks here have a higher interest rate than back home right now.

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The coming months may well see the peso have some jitters. Nothing like uncertainties to shake currencies and elections here will do this.

The Kiwi Aussie like so many (not US) have dramatically dropped against the peso over the last year or so.

I can remember many years ago the pound was 100+

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In the few short years I have none about the Philippines the rate have been between 65 and 71 to the English pound

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Posted

20 Jan 2006 00:00 UTC - 17 Jan 2016 23:20 UTC

GBP/PHP close:68.25300 low:60.51339 high:101.79263

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Posted
what happens when the rate falls,

 

You tighten your belt and hope it goes back up.  Unfortunately, currency exchange has no guaranteed bottom.  The Canadian dollar was at 40 pesos when I made my decision to move here.  It went up as high as 44 pesos for a while and that felt pretty good.  Now I get less than 32 pesos, the lowest it has ever been, and there is no bottom evident.

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there is no bottom evident.

 

 

One Steve may understand and it could happen Anywhere, Any time. When he Euro was first Introduced it was 1.47 to the pound.

Over the Years it has been up and down as others have but in 2010 it fell to 1.01. Crisis time, they tried to shore it up and failed Miserably. Some Countries took bale outs and the rate went 0.97 that is just about the pits but it happened. This is one major contribution as to why the Pound has stayed somewhat stable,

 The UK never Joined the Euro zone and Europe is just not the place at this time to spend the Pound. I wonder sometimes how they Do Business and make it all Work  :89:

 

Jack  :whistling:

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