Again, sadly we have to go along with the current exchange rates, i cannot seem to find any information on internet for the reason the pound is dropping against the peso.
Although the £ is doing well against the generally falling $,it seems to be tracking the $`s performance with the Peso.
With the US set to drop interest rates again I expect the Dollar to get much weaker.
I hope Im wrong.

Do many Phill banks fail? I think i read about one in trouble when over once, but don't know if it sorted out or not as their are so many over there i only know the big names.
one of the largest banks based in Cebu went under about 18 months ago..Everyone got their money (up to insured amount)
Rural banks fail here quite often..