Cebu Experience
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The International Rice Research Institute (IRRI) is warning that rice prices are likely to rise sharply in 2009. In 2008, the price of rice had risen to a record high of about $1080 per ton. By the end of 2008, the price had fallen to around $575 a ton.
Going to start keeping data in one place to track how the dollar and peso behave. I believe over time this will provide some useful data that we can use to get a better understanding of where the dollar will go… There are so many factors out there though, it’s hard to account for all…
Dollar To Philippine Peso Value and Trends Knowing what the Philippine Peso is worth at any given point in time is of value, it tells us what our spending power is on that date. However, to have an idea what is going to happen in the future one needs to know the historical values and…
The dollar to Philippine Peso trend has been virtually unchanged since December 24th. The numbers I usually watch have not been updated since the 24th. Those are the trading value and the official government rate but is slightly different than bank rates. It appears that there just has been no trading since the 24th but there’s a lot to this market I have not learned yet.
Economic Planning Secretary Ralph Recto stated he expected the fourth quarter growth for the Philippines to be at least 4.6% This is a healthy number and better than the previous estimate of 3.5%. He also said that he believe growth for the entire year will probably be at 4.6% for the entire year.
Last year, Philippine GDP was 7.2% which was a 31 year high. Growth at this rate was a bit inflationary and interest rates had to go up to slow growth a bit
For expats this would likely indicate that a flat value on the Peso. I wouldn’t expect the peso to either fall or rise much based on these numbers. If the rate of growth falls a bit more than expected then I would expect the Philippine Central Bank to lower its interest rate. At that point, the value of the Peso will have more downward pressure and help reduce the fall of the dollar against the Peso.
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