Nationwide............

[fred]

hello,
any one else concerened about peso exchange rate 62php - pound, when i started going to philippines it was 84php and have been told it was closer 100php before ! what i dont understand and perhaps soomeone can tell is why has there been a 40% drop over a number of years we are in a worldwide recession yet the pound is losing ground against the peso ! does that mean the money markets feel the philippines is a stronger economy than the uk ? ..what do you guys think about it living there in the philippines must be having an effect on your budgets assuming you have pensions etc in the uk...
sorry if highjacking the thread thought it was kinda related (well its about money) hehehe

regards

j & a

It is definitely effecting Brit expats here..Im being told this all the time..If it goes even lower then occasionally some of them may have to re-evaluate their lives here..Things would certainly have to get very desperate for them to return to the UK however..(from what Im told)
Personally I am very fortunate that I have no need to change Pounds in order to live here..
My sister is on holiday with us here and she just changed up some cash..She got 68.50..
About 4/5 years ago it was hovering around 107.00.
The UK is really messed up and the world markets know it..
Thats why the Quid has dropped like a stone IMO.

[keithAngel]

I forgot interest rates are the other big factor

[joebloggs]

About 4/5 years ago it was hovering around 107.00.

those were the days ...........

[David House]

The exchange rate has much more to do with the weakness of the pound than the strength of the peso. The British economy is in the biggest mess of all the majors and there has been a rush by overseas investors to sell the currency ahead of the election. The recent sharp decline has been caused by the fear of a hung parliament, which it now seems is a real possibility. Brown and his lot are continuing to play politics with the economy by suggesting that you can save money by not cutting services just yet. Not jam tomorrow this time, rather pain tomorrow. The public sector will have to bear the brunt of the severe cut backs, whichever shade of government we end up with, and public sector employees are likely to be seduced into voting for this argument thus the fear that the election result is not as clear cut as it once looked.
Uncertainty is the driver of fear so once the election is out of the way I would expect to see the decline reversed whatever the result is. Unless.......Brown said yesterday that he would not quit if he lost the election and hinted that in the event of a hung parliament might continue as a minority government and call another election. What would happen with exchange rates if that happened I cannot imagine, but it would not be good.
In the meantime just drink 10 SM's rather than 15. You know it makes sense.

[keithAngel]

Your right David that pain is comming but Im not sure any of us know how bad its going to be