peso rate

[stevewool]

seems the rate for the peso is going in the right direction:xxgrinning--00xx3:

[rani]

good for you :)

[junior02]

seems the rate for the peso is going in the right direction:xxgrinning--00xx3:

yeh good its going up, lets hope it gets back to 100+ again, or even 90 again would be good

[Englishman2010]

Good news, it can keep going up for the next 5 weeks if possible.

[stevewool]

hi englishman hope all is well

[KeithD]

Remember currencies can go up (highly unlikely) and down (very likely) :D

[stevewool]

i think it will stay between 65 and 74 for a while yet then again i have been known to be wrong

[Englishman2010]

hi englishman hope all is well

Yes, all is well thanks Steve. Making some new friends on line:D

[Englishman2010]

Remember currencies can go up (highly unlikely) and down (very likely) :D

Yes it will most likely start going down on 20th August, or the week before, so that when I get there it will be down to 60:yikes:

[stevewool]

well its good to here to doing well and what i do with the rate is once i am happy with it i buy it, then dont look again , nat west has allways been good for my rates

[James Hubbard]

its good to see the rate going in the right direction :) very encouraging...

Hopefully the trend continues :) it will benefit all of us :D

[-sillybilly-]

I hope the rate goes up a bit higher, i mean high:D
so my husband could send me extra when he sends my visa fee next week.:icon_lol:

[James Hubbard]

hahaha, or it'll just be better for him ... so he can send less ££ :) I sent visa fee last week lolz

napaka mahal:crazy:

[-sillybilly-]

hahaha, or it'll just be better for him ... so he can send less ££ :) I sent visa fee last week lolz

napaka mahal:crazy:


It will definitely better for him but i can explain that since the rate has gone up he might wonna send a bit extra...fingerscross!

(yeah, hes quite a bit tight :action-smiley-081:!) sssshhhhh!

[James Hubbard]

(yeah, hes quite a bit tight ) sssshhhhh!

nothin wrong with that, as long as it's only a bit :D:xxgrinning--00xx3:

[JimOttley]

yeh good its going up, lets hope it gets back to 100+ again, or even 90 again would be good

Not a hope in hell, its headed for the 40's level over the next few years, maybe worse.

Boss reckoned if the Tories got in it would get back to 78, maybe it will short term but not long term.

The really bad things have not even started in the UK yet.

Main issues affecting the price will be regional economic strength in Asia and their eventual break from dependence on sales to the west.

Also double dip recessions in the developed economies and the nightmare results of all the "pass the parcel debt ".

UK government debt credit rating will be downgraded sometime in the next year probably and inflation in western economies will eventually take off as a result of all the money printing over the last 12 months.

When the credit rating is downgraded our immediate public expenditure bills will become impossible to pay, because we are borrowing as a country to pay the basics like public services, wages etc. Either the debt auctions will fail or the rates asked for will bankrupt the country.

This isn't just our problem it applies to a huge part of Europe as well and it also applies to the USA.

Peak Oil shock is due which will hurt everyone but particularly western developed economies.

In the last 5 years the Phils has had local inflation running at over 5% (7% maybe) during that time GBP-PHP has gone from 106 to 63 at the lowest I think?

The inflation has made essentials like food and rice much more expensive in peso terms at the same time luxury items have gotten cheaper in real terms, as purchasing power of the peso has improved.

For a westerner supporting a family everything important is at least twice as expensive as it once was. Same for OFW's.

For me personally the costs getting to be nearly the same for the Phils or the UK, ok food is a little bit cheaper but electricity is more expensive, rent is cheaper just now but entertainment is starting to become expensive. For me basically I am stuck because I still can't get my family over here, that is the only thing that would stabilise my costs, if the peso gets much stronger I am doomed.

The problem for the Phils is that the economic prop that is the OFW workforce is being hit extremely hard as their earnings don't go anywhere near as far as they used to back home.

It's still ok for the likes of merchant seamen who have limited scope for spending on themselves but I have Filipino friends in the UK who are seriously thinking they are in the wrong country right now, they are thinking of going home and trying to start a business, how many others are thinking the same and probably thinking about the same kinds of businesses?

If large numbers of OFW's flock back home, all at the same time, it will either depress the Philippine economy or be the boost they need to finally become an Asian Tiger, hard to know which way it will go all depends on how much capital the OFW's have managed to hold back from the families at home and how smart they are (OFW's are generally pretty smart!)

And of course for as long as Asia is dependant on western customers they will be hurt by our problems in the west.

The real problem is that Asia needs much more regional development (it has a chance, more than we do) but like everyone they and we are heading into the abyss in energy terms and you simply cannot run a technological economy without energy.

Let's all hope for the best.

Meanwhile I will be happy if the rate gets back to 78 peso even for a little while.


Jim

[somebody]

I believe part of the rise is the UK has faced up to the fact it has to start sorting its finances which the currency traders liked. Also recently the BOE stopped printing extra money at least for now. But like Jim n others say its not looking good.

Many who are saying what recession are only saying due to low interest rates I know of many who have never been so well off. But unless they have been knocking down the amounts they own with the spare money many may get hit if interest rates shoot up..


Jim i agree what you say about OFW's plenty round our way and in other western countries wondering what they will do, many have drained their resources it seems ie savings and maxed cards to keep up face. Seen quite a few Phills not driving the Honda's round and walking/busing it in the local area.

I think many of those who are thinking of moving from Phill to work as OFW's and those who start a Brit phil relationship need to always think can they mange if the Sterling to peso rate was far far worse than it is. Same with those planing on living on pensions,savings and investments from the west in Phill. if your 60 or 70 you can easily live to 90 plus that's twenty or thirty years in that time I would not be surprised if most remittances are from east to west rather than what occurs now. Plus at some point the west is going to want to hyperinflate away debt surely? That large sum in the bank may not keep up...

[JimOttley]

Yeah Andy, I don't really understand the short term movements, they seem to be based on immediate day to day sentiment not some rational assessment of the real long term economy. It must just all be bets on margin somehow, wish I understood it better :)

I liked your "Honda" comment, I've always driven Honda's, even long before I met Ana, sadly my S2000 that I had for 4 years went for exactly those kind of reasons as the financial pressure increased a couple of year ago :(

Loved that car :)

http://farm1.static.flickr.com/18/70649032_fc38efcf4d_m.jpg

You are dead right about the pensions, savings and investments, we will hyperinflate at some point and if that happens too soon all my plans for the future will go up in smoke :(


I believe part of the rise is the UK has faced up to the fact it has to start sorting its finances which the currency traders liked. Also recently the BOE stopped printing extra money at least for now. But like Jim n others say its not looking good.

Many who are saying what recession are only saying due to low interest rates I know of many who have never been so well off. But unless they have been knocking down the amounts they own with the spare money many may get hit if interest rates shoot up..


Jim i agree what you say about OFW's plenty round our way and in other western countries wondering what they will do, many have drained their resources it seems ie savings and maxed cards to keep up face. Seen quite a few Phills not driving the Honda's round and walking/busing it in the local area.

I think many of those who are thinking of moving from Phill to work as OFW's and those who start a Brit phil relationship need to always think can they mange if the Sterling to peso rate was far far worse than it is. Same with those planing on living on pensions,savings and investments from the west in Phill. if your 60 or 70 you can easily live to 90 plus that's twenty or thirty years in that time I would not be surprised if most remittances are from east to west rather than what occurs now. Plus at some point the west is going to want to hyperinflate away debt surely? That large sum in the bank may not keep up...

[fred]

Some intelligent insights and opinions here..
I have given up predicting exchange rates and for those that think they can ,could I suggest Forex trading..
Put money where mouth is..This time next year you could be a millionaire and not have to worry about these petty fluctuations!!:xxgrinning--00xx3:

[stevewool]

pensions and savings well do we all have them , i may be wqrong here but my pension is my home that is what i see plus that little thing the goverment may give me , plus my privat and savings , the biggest thing is my home though, so when the time is right that will be sold and hopefully will keep me and emma for the time we need it