Rates Are Up!

[jimeve]

3 hours ago, scott h said:

Not me  we built our house in 2012 when it was 41-1......could have had a mansion lolol 

I built my house when the Pound was 110-1.... I DID build a Mansion.

[hk blues]

56 minutes ago, Snowy79 said:

My friend has just completed a construction and as the peso depreciated the cost of materials shot up, more than wiping out any savings.  

Absolutely this.

Every time we go shopping and buy something we will suffer from the depreciation of the peso.  I'm not saying It will wipe out the benefit of the increased rate - that depends on how much and how often you transfer but there are 2 sides to the equation.

[OnMyWay]

56.06 on XE right now.  It has gone up almost 1 peso this week.

[OnMyWay]

Villarica is 56.10 this morning.  XE is 56.35

[insite]

Got 56.20 earlier - now XE 56.42

[OnMyWay]

46 minutes ago, insite said:

Got 56.20 earlier - now XE 56.42

Somebody told me they got 56.15 at BPI online in the morning.  I logged in at 3:10 pm and there was no option to do an exchange.  I thought the cutoff was 3:30 but maybe it's 3.

XE has gone back to 56.33 now.

[russellmania]

I got P55.80 yesterday..I exchanged again at same place Robinsons gallaria Cebu city and it was P55.75

[Kingpin]

On 7/7/2022 at 9:56 AM, Snowy79 said:

My friend has just completed a construction and as the peso depreciated the cost of materials shot up

Always with consumables, but big-ticket retail items like cars or electronics generally don't creep upwards and are a much better deal now. Condos and houses are questionable, but they won't be lowering prices if the peso appreciates, so either way never a better time to buy.

 

[JJReyes]

I have been monitoring the USD vs PHP exchange rate in preparation for our coming trip.  Hopefully the exchange rate remains favorable after our arrival.

[JJReyes]

According to Benzinga.com, we can continue to expect for the Philippine peso to drop against major foreign currencies.  It's a combination of increased international borrowing attributed to the pandemic and surging imports.  At the same time, exports to China, a major trading partner, are decreasing.  The Bangko Sentral is likewise reluctant to increase interest rates causing the currency market to move to US dollars as the US Federal Reserve move towards a more hawkish approach towards inflation.

A currency trader with a Japan bank is projecting as high as 60 to 1 by the end of 2022.