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No need for this post since late 2018!  After hovering at 48+/- since December, rates jumped this past week.  We exchanged at Villarica today for 48.62.  Is this a reversal of the two year trend?  Nobody knows, but I think the fact the U.S. interest rates jumped this past week had something to do with this uptick.

1 month chart                                                             5 year chart

Screenshot (226).png  Screenshot (227).png

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Yeah, OMW... it's killing me - 5% less than a while ago. At least we got the home mostly done while rates were okay!

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Yep, we replenished our high exchange rate pesos in our credit union that we have been using the last few months,,,,,hope it continues

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It might be due to new leadership in the United States.

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47 minutes ago, Yeochief said:

It might be due to new leadership in the United States.

I read that the new administration is doing things which are expected to force interest rates up, which will create more demand for $US which means higher value of $US.  

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1 hour ago, Dave Hounddriver said:

I read that the new administration is doing things which are expected to force interest rates up, which will create more demand for $US which means higher value of $US.  

Possibly higher value against other currencies, but when you print trillions of dollars, those dollars are going to be worth less eventually.  Eventually inflation could get ugly.  I hope not.

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When I was lookng at my retirement visa last year it was in Dollars.  I was getting 1.16 Dollars to the Pound Sterling. Today it's 1.41 Dollars to the Pound Sterling.  That's a serious drop in value.  The Dollar has also crashed against the Euro.

Peso wise the same time last year I was getting 59.72 Peso to the Pound, today it's at 68.60. 

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Philippine government is borrowing heavily to prop up an economy that has been devastated by the pandemic.  This is one factor contributing to a lower value for the Philippine peso.  Another is the decrease in exports and OFW remittances.  For several months there appeared to be an inflow of foreign currency.  I suspect this came from wealthier Filipinos converting their dollar savings to local currency.

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3 hours ago, Snowy79 said:

When I was lookng at my retirement visa last year it was in Dollars.  I was getting 1.16 Dollars to the Pound Sterling. Today it's 1.41 Dollars to the Pound Sterling.  That's a serious drop in value.  The Dollar has also crashed against the Euro.

Peso wise the same time last year I was getting 59.72 Peso to the Pound, today it's at 68.60. 

I exchanged 4 times last year - the lowest was 59.50 and the other three hovered around 62.5 give or take.  So, an uplift of abut 10%.  I expected it to get to 70 this year but not quite so quickly.

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