Warning: mysql_query(): Access denied for user 'root'@'localhost' (using password: NO) in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6082
Warning: mysql_query(): A link to the server could not be established in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6082
Warning: mysql_fetch_array() expects parameter 1 to be resource, boolean given in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6083
Warning: mysql_query(): Access denied for user 'root'@'localhost' (using password: NO) in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6395
Warning: mysql_query(): A link to the server could not be established in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6395
Warning: mysql_fetch_array() expects parameter 1 to be resource, boolean given in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6396
Warning: mysql_query(): Access denied for user 'root'@'localhost' (using password: NO) in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6537
Warning: mysql_query(): A link to the server could not be established in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6537
Warning: mysql_fetch_array() expects parameter 1 to be resource, boolean given in /home/cebux/public_html/wp-content/plugins/hwe_manage_business/manage_business_plugin.php on line 6538
Dollar to Philippine Peso Exchange Rate Falls
No matter how hard I push, the dollar to Philippine peso currency trading wheel barrel in my head, the dollar has started to slide again. On Monday, October 10, 2011 the dollar took a brief drastic ride that reminds me of the buses zooming up and down National Highway One in Cebu. It looks like a roller coaster. This chart from XE shows what I am describing.
The dollar has been falling for several days but on Monday it suddenly fell from around43.4 down to near 43.1 but then it bounced right back up just as fast. Then again on the 11th it nose dived for a bit but the day ended with the dollar up when trading against the Philippine peso. This is the first rise since in several days.
On Friday President Aquino approved a physical stimulus package which seems to have triggered the decline of the dollar to the Philippine peso. Though it was approved Friday, it had been public for several days before. Aquino has received a good deal of criticism from some groups because of the lack of government spending. His reasoning has been that he was first working on reducing corruption so that a stimulus package would be better used.
A report in August shows that exports from the Philippines had dropped 15.1% over the prior year. That is a devastating number! Suggesting some kind of stimulus is needed and pointing to the troubles in Europe and the USA. This package appears to be raising the expectations of future growth in the Philippines.
I also noted that the dollar seems to be doing well against many other currencies. I checked only a few at a quick glace but the dollar is up against many other currencies over the last week. The Swiss Franc would be one exception that I noticed.
So it appears to me that the dollar is up but the Philippine peso is up even more. This fall in the dollar appears to be in response to a stronger peso and not a weaker dollar. That is good news to expats all over the world. It could mean we’ll see the generally upward movement of the dollar return soon. I know I sure would like to see P45 again but I don’t know if it will even hover around P44.5. I think the trend is up but I sure wouldn’t invest any of my money based on that belief.
Tagged with: Currency Trading • Dollar To Philippine Peso • Exchange Rate
Filed under: Dollar To Philippine Peso
Like this post? Subscribe to my RSS feed and get loads more!
Get
To The Philippines Faster
Ouch, pretty bad rusty. However, the ph peso to cdn $ exchange was actually worse from what i saw when markets closed on friday. I think the currency exchange rate was $1 -> 41.03. I was stunned by this, as when i usually see it around 43 to 44, over the past few months. Its funny that those 2 or 3 pesos make such a big inpact. I’m now very curious howgood things will fair in coming months, particularly over the christmas holidays when i will be visiting my girlfriend and her family and friends for 3 weeks. Hoping it will rebound for the festive season!
Once Europe’s problems leave the headlines, pressure on the US dollar will increase. I wouldn’t be surprised to see 40 to 1 next year.
Hi Don and Rusty,
Europe problems aren’t going away anytime soon. The situation especially with the banks collateral (sp) and debt in Europe is worst than the US (if you can believe that). It seems that the peso and euro value are declining and rising in unision. One reason the dollar is getting weaker is that the commodity markets can price oil, gold and food higher. Oil prices increase as US Dollar loses it value.
Jack, I see you’ve been doing your homework. Those oil prices are a major threat to the US economy as i suspect you know.
I agree with you and maybe just maybe the US economy will be moving upward more stably. I think it is moving that way but I’m worried about consumer confidence wreaking havoc when the numbers come out for last month. Or have they already?
I scanned a complex report the other day, it indicated that if the UK stays on its current path its debt will equal 150% of its DNP. That wont work so problems are likely there.
Sooner or later, China is going to have a problem with banking as well. They are already trying to correct for it though.
I am confused on the value of the dollar to the euro. I just watched a video of an expert talking about how the European country balance sheets are in worst shape then the USA. There is strong motivation in the commodity market to keep the US Dollar weak. I think it will take Greece defaulting to pop the bubble which will cause lots of other more serious problems. T Boone Pickens was quoted once on riding the oil well for profit as long as possible (sorry … I looked for it. The only one I could find from him was “Work 8 hours and sleep 8 hours and make sure they are not the same hours”.) The commodity problem needs to be dealt with or the world will be in continue cycles with violence as shown this year with the Arab Spring. protests.
THIS week, numbers have been better than expected in Europe and stimulus package in the RP is pushing the dollar to Philippine peso down.
The reason some want the dollar weak is that the USA has no internal growth because there sales are weak. When the dollar is weak, that helps with exports. However that drives up oil prices because oil transactions occur in dollars. When they convert back to currencies in the middle east that means lower reviews. So prices go up to keep revenues up to some extent. Also with revenues down there is less motivation to produce. They are better off waiting for prices to rise more or the dollar to rise.
When oil prices rises, everything else does for the most part. Cost to transport goes up, energy cost go up driving up the cost of manufacturing and people have less money to spend on goods as they pay more to heat their homes and to get to the store.
No one buys, store shelves fill up. There is no need to order more products. Manufacturing falls, people get laid off, further causing sales to fall and it all just snowballs.
When Greece got into trouble investors feared world wide problems as Europe tries to cover it.
Investors get scared, afraid of more risky stocks and bonds so instead they buy bonds or just keep more cash on hand or buy gold and silver. Most of it goes to the dollar. This pushes the value of the dollar up. It mostly a result of people returning to the safest currency in the world.
Hope that helps.
hi rusty
I have been thinking about the VPN , you talked about before , and wondered just how thay worked togeather. I called xoom and thay said there would be no problem ,but i still worry about it
so if you could help me understand alittle better, that would be great ,seeing i have to pay for that service.
glad things are better for you.
Until you sign up and use it, you’re not going to understand.
They will send you step by step instruction, I wouldn’t worry to much about understand those, just follow the steps. It will probably be new to you and will look confusing probably but once you do it, I don’t think you’ll have any problems.
After you set it up, you’ll click an icon or program from your start menu and it will connect. Once you’re connected everything you do will be showing via you’re VPN. If you’ve been around since the days of dailup, it’s the same process. But not done through a modem. If you get stuck, they will help you. It COULD require a change to your router configuration but I’ve not seen that in 10 years or so. Windows usually handles it without an issue.
If you want to verify, you can google whatismyip and click on the results. you’ll see your IP. Then login to the VPN and refresh that site and you’ll see your new IP.
I use my VPN for Xoom on a regular basis. No problem at all.
If you had a sever, it would be like going to the server and using the server to view a webpage rather than your own PC. But that is all handled internally. You’ll only be using your PC.
I don’t have to do that with Xoom any more as I send to a bank account and they trust my account now. But in the beginning it was very needed. We use the VPN mostly to watch netflix and many other websites that are blocked to the Philippines. Usually multimedia sites, like most TV Network. I couldn’t watch anything on Comedy Central for example and many things are blocked on Youtube. Not any more. 🙂
Hi Rusty,this has nothing to do with the dollar,as I find it difficult to understand anyway.Energy seems to be the key from what I,ve been seeing. Can you tell me anything about Malapascua island? Is it a good area in November and how safe is it for tourist? Do they have a good airport or is travelling by ship the only option? Hope your having good health and life is being good to you.Thanks for all the good information you have given me in the past.I highly recomend your e book to anyone going to the Philippines.From Randall the Canadian.
Hi Randall, I don’t like to declare any place safe because something can happen any place but Cebu is one of the safest areas in the Philippines. The small island so Bantayan and Malpascua are two places I’d go without any thought of danger myself. Other than natural ones. The island are very tight knit and bad elements wont be able to operate long if they mess with tourist. The lifeblood of those islands. I haven’t been to Malpascua, it has more brownouts than Bantayan GENERALLY from the last reports I’ve heard. Two years ago there generally was no electricity during the day. That might have changed by now, I don’t know. I’ve seen many videos and a couple of documentaries of the place and it looks awesome. One of the places I need to look at. I would go without any hesitation and look forward to the chance.
Thanks Rusty.I like your view on different places.I,m looking for a good place to go on my honeymoon. I,m getting married in Cebu sometime in November if every thing is approved.Have a good day and may good health always be with you. Randall the Canadian.
I would take a long look at Ogtong Cave Resort in Bantayan Island for a honeymoon. Now the room I’d want for that is expensive. Not everyone seems as fond of the place as I am but I really like it.
Thanks Rusty,It sounds interesting.I,ll certainly look into it.The Philippines has a lot of beautiful places,I hope to see some day. Take care Rusty and good health.
They have in room hot tubs and pictures show roses floating in the water. The resort has two pools but one of the pools is reserved for these more expensive rooms. They are around $400 a night. 🙂 Jessie is worth it but I’m not worth that. LOL
There is a review on this site, published last month of Ogtong.
I hurd that in january 2012. socsec will be increased by 3.5 % iread on yahoo mail news. about time.
Don, do you mean benefits? If so, I don’t think so. If inflation stays under 2% there will be no increase for the third year in a row.
I believe all Federal payments like this are tied to inflation…..
BZZTTTTT wrong answer rusty. LOL
I wrote that and then searched it. It is true. it is 3.6 percent. Of course, elections are coming. 🙂 I don’t know how that is being done. I thought it could only be done if there is inflation of 2% and that need changing. Inflation could be 1.9% for 10 years!
I hope they do the same for Federal retires under the old civil service system and military. I’e had no increase since 2009.
During that time my electricity cost went form P7500 to P10600 or around $75 at today’s dollar to peso rate.
BTW the dollar to peso rate is way down since I wrote my last story about it.
Thanks for the info Don, I’ve not been following things as closely as I usually do.