Metrobank sees peso at 41.50:$1 by year's end

[jake]

The peso could end the year at 41.50 to a dollar given the solid economic fundamentals and healthy reserves position now being savored by the Philippines—formerly the sick man of Asia—which reflect a stable currency in the eyes of the research arm of Metropolitan Bank & Trust Co.

“The local currency is expected to end the year relatively stable at P41.50,” Metrobank Research surmised in its Economic Weather Report for the third quarter.

“The Philippines' relatively strong economic fundamentals and favorable international liquidity position should continue to provide support for the peso,” it added.

Dollar reserves were recorded at $81.64 billion as of end-June 2013, with monetary authorities expecting to end the year with a record $87 billion.

In May, remittances grew at annual rate of 5.3 percent or above the Bangko Sentral ng Pilipinas's 5 percent growth forecast to $1.867 billion.

But Metrobank said bets on the US trimming stimulus measures—which erodes the appeal of emerging market currencies—will keep the peso at trading at the 42 to 43 per dollar levels this quarter.

“[T]he volatile period is not to be discounted amid still jittery financial markets,” the report read.

The peso weakened nearly 6 percent in June from the start of the year due to regional sell-offs on US quantitative easing fears.

“Research expects the peso to hold the P42-43 levels, especially in the third quarter, given that it is also the Philippines’ import season,” according to Metrobank Research.

http://www.gmanetwork.com/news/story...-by-year-s-end

If this prediction is correct the pound will not be strong against the peso.

Better ask mum for my Christmas tenner now

[stevewool]

like anything in life , it has its ups and downs, just make sure you have that extra little bit tucked away for that rainy day

[jake]

like anything in life , it has its ups and downs, just make sure you have that extra little bit tucked away for that rainy day

Don't burn a hole in your pocket playing with the stress balls

[stevewool]

, if you could see my shorts pockets, there has always been a hole in one of them, i tell everyone its there so i cannot carry any money but hey i seem to always have a smile on my face

[jake]

, if you could see my shorts pockets, there has always been a hole in one of them, i tell everyone its there so i cannot carry any money but hey i seem to always have a smile on my face

[joebloggs]

like anything in life , it has its ups and downs, just make sure you have that extra little bit tucked away for that rainy day

years a go i was getting more than 105php to £

[Terpe]

I wonder what the 'China' effect will be for Philippines?

All the planning for my move to the paradise islands has been based on P40/£
The longer it stays above that level the happier I'll be.

Roll on 2015

We're still in process of establishing local income, then it's just the pensions that will be £ sourced. Not much to do about that.
Exchange rates and economic variances can be a killer if you're standing on the wrong end of the bridge.