How's that retirement penson going?

[manofthecoldland]

33 minutes ago, Huggybearman said:

The British Pound is faring no better!  

c. P 65  down to  P 58 in the last 30 days.

[RBM]

5 minutes ago, manofthecoldland said:

c. P 65  down to  P 58 in the last 30 days.

Whats behind this? or is it just peso strength?

[Snowy79]

24 minutes ago, RBM said:

Whats behind this? or is it just peso strength?

A good question as the Philippines economy must be in dire straights with the lock downs going on.  The Chinese are going to need their money back to do a regain on some of what they've lost and going to lose.  Everyone in the West with a brain must now be looking at countries nearer to their base for supplies now. 

[Tommy T.]

1 hour ago, RBM said:

Whats behind this? or is it just peso strength?

Peso is losing relative to the US dollar also, but not as deep - about 1 peso/dollar down in the past week and a half or so... Chinese yuan is down about 5% in the same time period.

Hmmm... time to buy more toilet paper, I think...

Edited March 19, 2020 by Tommy T.

[hk blues]

2 hours ago, manofthecoldland said:

c. P 65  down to  P 58 in the last 30 days.

Last 30 days - more like last 9 days!  

[Gary D]

10 minutes ago, hk blues said:

Last 30 days - more like last 9 days!  

When I looked about a week ago it was around 63

[hk blues]

1 hour ago, Snowy79 said:

A good question as the Philippines economy must be in dire straights with the lock downs going on.  The Chinese are going to need their money back to do a regain on some of what they've lost and going to lose.  Everyone in the West with a brain must now be looking at countries nearer to their base for supplies now. 

I doubt the Philippines economy is stronger than the UK so the weakness of the pound v the php isn't about that.  I can only imagine that the peso is taking its lead from the USD and hammering the GBP.  In addition, the market is concerned about the UK economy in general - Brexit still weighs heavily and the UK is pumping money in right now to keep the economy afloat amidst tghe virus - interest rates will move to next to zero next week. At the moment it's all about moving money to safe havens and the USD provides that. 

I guess we can say that in times of trouble, the market likes to see something positive and the UK is giving them nothing.  

 

[hk blues]

6 minutes ago, Gary D said:

When I looked about a week ago it was around 63

Yep...it's has been falling since 6th March - 66 then and progressively falling since.   It was at 61.94 yesterday and now 57.9 using my bank's rates!  

Edit - a quick check right now shows 59.1 but that's an averaged rate. 

Edited March 19, 2020 by hk blues

[Huggybearman]

12 minutes ago, hk blues said:

Yep...it's has been falling since 6th March - 66 then and progressively falling since.   It was at 61.94 yesterday and now 57.9 using my bank's rates!  

Edit - a quick check right now shows 59.1 but that's an averaged rate. 

The local forex booth this morning is giving 56.94 the Pound. 

[RBM]

Need to the maths see which one is the biggest looser....Kiwi Aussie or Pound....Over the last week.