£ - Peso .... Latest

[KeithD]

It'll go up more as the $$$$ continues to weaken.

[EdwardB]

It'll go up more as the $$$$ continues to weaken.

I'm sure everybody supporting friends & family in RP from The UK are celebrating their empowered contribution capacity.

But this crazy world of floating exchange rates is proving to be as bad as the madness that put the UK & USA in a hole last year - viz. our banks lending to off balance sheet packages of mortgage debt.

Last October I shifted over a GBP million worth of contracts out of RP to China because RP didn't have the infrastructure from its government to offer a currency exchange rate hedge. Financially I'm covered but RP has lost hundereds of jobs - & I have the cost of paying for Ana's flights to Hong Kong rather than spending time in Manila. That said mixed blessings there... she has fallen in love with/and in love in Hong Kong..... & Manila bores scares me to death!!!

So celebrate the gambling win in the short term - but reflect that in the end China may have got it ever so right!!

A fix at GBP to 1.65 $ would be about right. Nearly back there!!! & with a hedge the jobs would be in RP at the exchange rate they left in October. Politicians are stupid wherever they practice/practise.

[IainBusby]

Wow, 78.25 at PNB today.