Onemore52 Posted March 31, 2016 Posted March 31, 2016 Does anyone know if the Peso is pegged to any particular currency? For example, the Aussie dollar is going through the roof again because of a slump in the greenback. Just curious. Cheers, Link to comment Share on other sites More sharing options...
Jack Peterson Posted March 31, 2016 Posted March 31, 2016 14 minutes ago, Onemore52 said: Does anyone know if the Peso is pegged to any particular currency? For example, the Aussie dollar is going through the roof again because of a slump in the greenback. Just curious. Cheers, I am not too sure for Certain but Banko Sentral has always referred to themselves as a Floating currency but most of the time the Exchange rate seems to be geared to the $ Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted March 31, 2016 Posted March 31, 2016 8 minutes ago, Onemore52 said: Aussie dollar is going through the roof again I have to chuckle at that. The Canadian dollar is pretty much on par with the Aussie dollar and I still think we are in a slump and will be until we can get at least 40 pesos for it. As to your question, as I understand it the Banko Sentral says the value floats based on supply and demand. Here is where they say that. Perhaps its even true? Link to comment Share on other sites More sharing options...
Onemore52 Posted March 31, 2016 Author Posted March 31, 2016 9 minutes ago, Dave Hounddriver said: I have to chuckle at that. The Canadian dollar is pretty much on par with the Aussie dollar and I still think we are in a slump and will be until we can get at least 40 pesos for it. As to your question, as I understand it the Banko Sentral says the value floats based on supply and demand. Here is where they say that. Perhaps its even true? Thanks for info, makes some sort of sense. If my memory serves me correctly the Canadian dollar is also dependant on the mining sector as is the aussie to a degree? So none of this makes sense in that the mining sector is in a rut, lots of mines shutting down,heaps of workers on the scrapheap and no one wants the iron ore, of course this isn't reflected in the unemployment figures, and I am not suggesting for a minute that the numbers are false, yet the aussie is on the up and up. Is there manipulation of the currency market? Cheers, 1 Link to comment Share on other sites More sharing options...
frosty (chris) Posted March 31, 2016 Posted March 31, 2016 5 minutes ago, Onemore52 said: Is there manipulation of the currency market? Cheers, In a word YES, the forex market is a $5 trillion a day event, plenty of money to be made whichever way the market goes. The Pesos is aligned to the US $ The Canadian $ tends to react to the price of OIL, over lay the 2 trading charts and compare. 3 Link to comment Share on other sites More sharing options...
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