Peso taking off

I got 48.85 peso to dollar at BDO this morning

 

It's nearly 50 on XE today, 7-7-21. Hope it keeps climbing

 

Sure looks like 50 is coming. As has been mentioned, it is complicated to know if this is a good thing or not. But, to me, as of right now, it looks to me like the improvement in the dollar-to-peso exchange rate is outpacing the inflation of the local economy. So, for now, I'd say it is a good thing, especially if this trend continues for at least a few more weeks.

 

Peso dropping as global lenders are concerned about the ability of the Philippine government to make debt repayments. Now the people will have to deal with inflation which will surely follow quickly behind.

 

Wow so dramatic.

The dollar is simply resuming it's place relative to the peso. It was 50 php to 1 USD before the pandemic. The dollar dropped relative to the peso when the orange man refused to endorse the wearing of masks and cases in the US skyrocketed. Now things are resuming back to normal.

The only people who need to worry about getting paid back are the young because the old are borrowing so much money against young peoples future. Essentially old people are helping themselves to free money because they will be dead when it becomes time to pay it back.

 

You are (almost) making me feel guilty for getting a positive ROI on all the social security deductions over the years.

 

Peso now 50.13 international rate, not sure what the local banks rates are today.

 

And the British Pound is 69.24 on xe.com. It fell immediately after the Brexit vote in July 2016 to about 58! Let's hope the Yazz song is correct - "The only way is up" - except that I think this is showing a weakness in the Philippine economy, from which we all (citizens and expats) might suffer.

 

A catch-22. Still, beats a 46 exchange rate.

 

In June 2018, it was 53.25 at the banks. 'splain it.....