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Peso continues to fall

Discussion in '☋ Expat Section ☋' started by atlargex, Sep 10, 2008.

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  1. atlargex

    atlargex DI Forum Adept

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    Good news for those of you living on fixed USD income: The Peso has dropped to 47.01, and keep an eye on it while it continues to fall:D . How low do you think it'll go?

    Bloomberg.com: World Currencies

    Cheers
     
  2. pecoskid45

    pecoskid45 DI Member

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    Peso continues to fall

    You can thank me for that. Happens every month when I take my dollars
    out of the bank, the very next day the peso falls. So if you want a good
    exchange rate, call me to see when I'm making a withdrawl, then the next
    day the rate will go up.
     
  3. tubigboy

    tubigboy DI Forum Adept

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    I say 50 p to 1 US dollar by December. Thats if Oil goes to $70/barrell.
     
  4. Teacher

    Teacher DI Senior Member Showcase Reviewer

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    I can only hope that it keeps falling.

    As it falls. My wife and I just get happier, because that means we will be home sooner it cuts the time we have to be gone from the Pilippines. happy boy here.
     
  5. OP
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    atlargex

    atlargex DI Forum Adept

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    Peso still oway ver valued

    To me, the Peso is still waaaaaaaaaaaay over valued. Despite what Gloria A would tell you, there's no economic justification for it to appreciate the way it did. I see it dropping above 50 peso within 6 months.
     
  6. pecoskid45

    pecoskid45 DI Member

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    Peso continues to fall

    Obviously, we all hope you are right. I was living very comfortably when the
    rate was 55, 50 would be OK. At 40 we were stretching our budget every month. But, I just don't see it going to 50, maybe 48 tops. I think there's just too much money coming into the country from OFWs and wives. The reported amount is $18 billion a year, you can bet there's at least that much again unreported.
     
  7. Americano

    Americano DI New Member

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    As someone living on UK Sterling, I think the fact of the matter is not that the peso has fallen, but that the dollar has risen. However, I think when the credit crunch hits SEA there will be another economic crises and the peso will fall - big style! Well, that's what I'm hoping!!!
     
  8. David Finlay

    David Finlay DI Junior Member

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    Its interesting how quickly things change. My bet is, change your US dollars now 'cos they will be worth "zip" as time goes by. My other bet was $200 a barrel of oil by Christmas, and three weeks ago I was thinking how far off the mark I was. Now I am not so sure.

    have a nice day, Dave Finlay
     
  9. OP
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    atlargex

    atlargex DI Forum Adept

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    As world economy slows the demand for petroleum and raw materials will slow as well, therefore I could not see oil moving to $200 a barrel while demands are easing....if anything, due to the drop in demand I predict it'll drop to below $100 in the near term and if this is the case, it'll will help drive the value of US dollar up as what we're seeing in this past couple of months. For now, I would continue to hang on to my dollar for further appreciation.
     
  10. Teacher

    Teacher DI Senior Member Showcase Reviewer

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    You are right!

    With all I have read atlargex is right on the money on this issue.
     
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