When the £ was worth P107.00 I was throwing large amounts of money here as if it was my lucky year!!I wonder whether I should have bought a pile of Pesos a year ago, I hear various reports on how the market will go.
Nothing like that ever lasts for ever and the rate back then was just begging for a correction..
I own nothing in the UK anymore but I will wait patiently after the bubble bursts and property prices lose 50% or more over the next 4/5 years..
Then I`ll be back to mop up.
Thanks Andypaul for your insider info. Sounds similar to what I was told.
I got P86 to the £ when I sent Christmas money to the wifes family the other day using PNBs Global Filipino Money Card.
At the moment we're still not too far from the magic 100 to 1 rate which makes mental conversion easy! However, if it goes much lower, perhaps below 75 to 1 then I'd start worrying.
Personally, I have a building project to start in the Phils soon and obviously I want my £ to have good buying power. If there's enough evidence that it might get worse then perhaps I will buy maybe £5-£10K worth of Pesos.
As far as taking Pesos out of the country is concerned, why would you want to? The P10K limit is low and I've had more than that in my wallet before when leaving the country, but I only hold on to it and eventually take it back with me on the next trip. If you open a Peso account with PNB, just leave your Pesos in there and manage it from the UK.
andypaul, the weak dollar is the excuse rolls royce are using for shutting down a factory in scouserland, 200 will lose thier jobs
http://news.bbc.co.uk/1/hi/england/m...de/7126252.stm
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