OnMyWay Posted January 15, 2014 Posted January 15, 2014 Wow! Link to comment Share on other sites More sharing options...
Call me bubba Posted January 15, 2014 Posted January 15, 2014 (edited) i dont use XECOM could you share what the fees are? is the rate changed thru out the day or is set ONCE? if its set once what time is it usually set? I ask as you seem to be very updated on this firm and a few other transfer firms is there any cost to receive it? how long does it take to receive it here? minutes? 1 day? thanks as i know others would like a better way to get a GOOD RATE, NOW let me go back to what i was doing before I was reading your post Edited January 15, 2014 by Pittman apartments Sgn Link to comment Share on other sites More sharing options...
earthdome Posted January 15, 2014 Posted January 15, 2014 This is not about xoom, rather it is about how strong the USD is vs the peso. Almost 45. 1 Link to comment Share on other sites More sharing options...
OnMyWay Posted January 15, 2014 Author Posted January 15, 2014 i dont use XECOM could you share what the fees are? is the rate changed thru out the day or is set ONCE? if its set once what time is it usually set? I ask as you seem to be very updated on this firm and a few other transfer firms is there any cost to receive it? reading theforum.JPG how long does it take to receive it here? minutes? 1 day? thanks as i know others would like a better way to get a GOOD RATE, NOW let me go back to what i was doing before I was reading your post XE.com does have the capability to do exchanges but I don't use them for that. I think I looked into it a long time ago and the process was more tedious than Xoom and about the same cost, so I used Xoom at the time. I only use them to get a baseline for what currencies are trading at globally Their main business is providing currency data to businesses and they also facilitate FOREX currency trading. Their quoted online rates are "mid-market", which means the mid-point between the global buy and sell rate. For my exchanges, I only use BPI because I always have been happy with their rates and I don't want to hassle going to a money changer for a few extra centavos. BPI will usually give me within ~10 centavos of the XE rate. Also, on XE, you can change the currencies that are displayed on this home page: http://www.xe.com/ 2 Link to comment Share on other sites More sharing options...
OnMyWay Posted January 15, 2014 Author Posted January 15, 2014 This is not about xoom, rather it is about how strong the USD is vs the peso. Almost 45. Right. Unfortunately it fell back to 44.96 now. :unsure: Link to comment Share on other sites More sharing options...
robert k Posted January 16, 2014 Posted January 16, 2014 (edited) I would take anything over 44 to $1. When I first looked at moving to the RP I was dismayed when the rate fell to 39 to $1 from 43. On my recent trip I got PHP from Chase bank at 37php to $1 before I left the US. This time I kept about 6k php for pocket money for when I return because my bank's rate is horrible. :) Edited January 16, 2014 by robert k Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted January 16, 2014 Posted January 16, 2014 It will seldom if ever get above 45. If memory serves, didn't NoyNoy order the BSP to intervene if it ever got above 45 or below 40? 2 Link to comment Share on other sites More sharing options...
Mike S Posted January 16, 2014 Posted January 16, 2014 It will seldom if ever get above 45. If memory serves, didn't NoyNoy order the BSP to intervene if it ever got above 45 or below 40? Yup ..... that's my understanding also ..... but right now he has LOTS of US $ floating around in disaster aid from foreign countries so I'm not surprised on the $ 's high rate .... JMHO :cheersty: 1 Link to comment Share on other sites More sharing options...
Mike S Posted January 16, 2014 Posted January 16, 2014 It has now broke the p45 barrier ...... :thumbsup: :cheersty: Link to comment Share on other sites More sharing options...
OnMyWay Posted January 16, 2014 Author Posted January 16, 2014 It will seldom if ever get above 45. If memory serves, didn't NoyNoy order the BSP to intervene if it ever got above 45 or below 40? JJR has mentioned these intervention limits and that all makes sense, but my searching has turned up nothing on the internet. One factor I have found is that Aquino's power subsidies actually hurt the peso, but help attract foreign investment to PH. The dollar is on a roll and is expected to continue to strengthen in 2014, because of the tapering back and / or ending the QE program by the US Federal Reserve. That was basically that same as printing money and had resulted in a weak dollar. I doubt that the Philippine central bank has the strength to slow the peso / dollar weakness much. I read an old article from last March that BSP was running out of funds used for this purpose, but I can't find any recent updates. Sooo, as always, only time will tell! At about 45.09 now. Link to comment Share on other sites More sharing options...
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