Art2ro Posted December 14, 2011 Posted December 14, 2011 (edited) Great! USD now at P44.01 Did the 3.6% U.S. COLA across the board help? 1 U.S. Dollar = 44.011 Canadian Dollar = 42.541 Australian Dollar = 44.041 British Pound = 68.10Quotes from Yahoo! Finance Edited December 14, 2011 by Art2ro Link to comment Share on other sites More sharing options...
Art2ro Posted December 15, 2011 Posted December 15, 2011 (edited) Someone's crystal ball is cracked, the predictions were that the peso would be down to P41 by December! It's now December and the peso is at P44.21+ to the U.S. dollar!Concerning the money market exchange rates! I asked a few BPI bank managers and they said that the exchange rate is the same weather you do a personal exchange at the counter, ATM or online! Just figure on that the exchange rate will be at least .20 to .50+ centavos less than the internet quoted Forex rates! Long ago I used to take out my dollars over $1,000+ from our bank and go to a reputable money changer where ever the rates are higher than the bank's or internet quoted rate which can differ from .20 to .50 centavos per dollar! I don't do that anymore since it's just a hassle looking around for the higher rates and only making extra money at a small amount of dollars exchanged under $1,000, but anything over $1,000 can be substantial and worth looking around for the highest rate if one is truly a tightwad and or a frugal person pinching every nickle and dime.Bringing back the 3.6% U.S. COLA is a good thing for all! Hope it stays for a while and hope that our taxes doesn't take a big hit in 2014.Someone I know will probably say, "it's all about money" again! Well it's true and just being practical about it when it concerns money which either one has or not, "it's always a matter of money" in order to survive in any country! It's always my motto (see below) among others! Edited December 15, 2011 by Art2ro 2 Link to comment Share on other sites More sharing options...
JJReyes Posted December 15, 2011 Posted December 15, 2011 The dollal/peso exchange rate trend may temporarily reverse during the Christmas holidays due to the large number of returning Overseas Filipino Workers (OFWs). The unanswered question is whether or not these are just holiday visits or a permanent return. With the European Union in recession and turmoil in the Middle East (Egypt, Libya, Syria, etc.), the OFW contracts may not be renewed. Philippine exports are also signficantly down and foreign investors are shying away.My personal prediction is the Philippine pesos will be somewhere between P45 to P50 to $1 this time next year. 1 Link to comment Share on other sites More sharing options...
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