Hows the eso going to perform over the next six months?

[andypaul]

After the peso performing so well for the last six months agaisnt most currencies. What do people think will happen?

Intrested in what people on here think?

Will the peso become to strong affecting the countries exports and remittances which act as a form of export and then cause ecomony problems?

I know somebody on here thought it might reach 60-65 to the pound a while back.

[joebloggs]

£ to php on pnb is 84.5, slowly been dropping for sometime,

aug 2007 i got 91.6 php to £
end of sept 2007 " 93.4
end of oct 2007 " 90.6
end of nov 2007 " 88.2
today 84.5

less than 5 months a drop of nearly 10%, can it keep dropping, i hope not

who's going to be buying anything from the phils when it cost you 10% more in less than 5 months

oh ricky haton fight is on sopcast now

[jonnijon]

My honey told me yesterday,the money changers are paying 87 to the £ in Tagum city

[andypaul]

Like you say joe the electronic and pc equipment made in phill which mainly exported and remittances from ofws already seen reports its affecting indivuals who they say some are borrowing to remit home. This may have longterm problems, what with the credit crunch in the west starting to bite. Will the goverment have to devalue the peso or will some currency trader use the peso for some big bet like sorros i think it was did with the pound in the 9os?

[imbazzer]

Is the pesos really strong maybe its just the dollar being weak all over the world. One of the reason why we have high oil price, letS have the oil price in pounds hahahaha, but the arabs wont do it as huge affect on usa had it good there for way to long .As for the pound v pesos ????

[joebloggs]

i never thought i would see the £ worth more than 2 usd , what's it now about 2.05usd to £.. good for brits going doing their xmas shopping..

but why the big drop over the last few months , like many on here i remember getting 105+ php to the £ around 3 years ago, drop of 20php to £ in 3 years , and half of that has been in the last 6 months..

well i'm sure it will not last, who's going to manufacture or buy goods from the phils ? might as well goto eastern europe, will sold serveral 100 printers to an Egyptian guy, who sent them to egypt to refurb and sell them there, he told us the pay for a printer tech was $40usd a month there......

[andypaul]

The first big drop i noticed coincided with the chinese for the first time in altering their currency overnight it dropped about 10 pesos to the pound.

Im also wondering if as the trade in peso and pound is probaly quite small in the grand scheme of things if the careworkers and other workers who are returning/retiring to phill along with brit/phill couples selling the propety they have in the UK and moving it over is having some effect? Along with the normal one way tide of remittance from ofws.
Is causing a huge tide of sterling which means the big banks and traders in phill have a surplus, if so this will only get worse in the short term.

I have done a bit of research, but on the web most is peso v dollar and they think it has quite a way to drop agaisnt it still. The next rise is likely to be before the elections in 2009/2010!
Im going to ask some city worker maties if they can have a look.

Personally i think the peso will have to drop agaisnt various world currencies but will it agaisnt the pound?