U.s. Dollar Up 1.4% Today Vs The Peso

[earthdome]

USD up vs PHP again today, now trading at 43.12 php/usd.

 

Looks like this is the best fx rate for the USD vs PHP in the last year.

[i am bob]

Same with the Canadian $ - now worth P42.0399.

[JJReyes]

I think the dollar will keep rising until it reaches levels seen several years ago.

 

The monetary policy is for the currency to trade in the P40 to P45 range. The Bangko Sentral ng Pilipinas may therefore intervene. Be happy you are receiving more pesos at the present time.  

Edited June 11, 2013 by JJReyes

[i am bob]

 

I think the dollar will keep rising until it reaches levels seen several years ago.

 

The monetary policy is for the currency to trade in the P40 to P45 range. The Bangko Sentral ng Pilipinas may therefore intervene. Be happy you are receiving more pesos at the present time.  

 

 

I think you're right, JJR, as the Canadian $ is up vs the Peso again this morning...  So I am assuming somebody somewhere is trying to bring the Peso back into that range.

[JJReyes]

I think you're right, JJR, as the Canadian $ is up vs the Peso again this morning... So I am assuming somebody somewhere is trying to bring the Peso back into that range.

 

The business section of a Philippine newspaper mentioned one possible reason for the sudden decline of the peso. As the Philippine Stock Exchange climbed to all time highs, speculative foreign investors started selling and converting their money back to US dollars. So long as the exchange rate is stable between PHP 40 to 45, I am satisfied.

[OnMyWay]

I got 43.15 today at BPI.  It looks like the rate went down since, slightly below 43.  Philippines stocks took a big dive today, down 6.75%.

Edited June 13, 2013 by OnMyWay

[JJReyes]

So far, so good. Most of us are happy over the PHP43 to USD1 exchange rate. What happened is speculative global investors decided to exit from the Philippines. They are moving their money to the US market, according to news reports. The result is a sudden plunge in the stock market and depreciation of the Philippine currency. Sometime during the next few month, the exchange rate will more likely return to a trading range of between PHP 40 to PHP 42.

 

I hope I am wrong because my personal preference is PHP45 to USD1. 

[OnMyWay]

Peso/ Dollar is 43.7099 right now on XE.com!  :540:

 

Unfortunately, for the same reason the dollar is up, most investments, stocks and bonds, are down!   :bash:

[GregZ]

Yesterday - 20 June 2013, I saw 43,83 from the money changer in Fooda, Cebu City, Guadalupe.  XE was 43.9 at the time.

Peso/ Dollar is 43.7775 right now on XE.com!  :540:  TOO bad I don't have any dollars. :hystery:

[Tukaram (Tim)]

...and XOOM is only offering 42.8 plus they charge $4.99 USD for the x-fer.  I guess I need to call my bank directly and see if they can wire some money...  I wonder how high it will go before it drops again?