The Philippine peso: Strongest currency in Asia! GOOD NEWS

[kolz]

---

Waaaa!!!! Paeta ani oi! ... last few months ... kung magpadala mi ug dollar PHP 50 pa ang conversion, karon PHP 49 na lang!!! paetz!!!!

[baron]

^From what I've watched from the news last night, the peso closed down at P48.83. The peso really manages to climb up the ladder this early. I will not be surprised if the peso could really reach as high as P46 per dollar.

It just occurred to me that it was P56 during Erap's time. Well then, a ten peso appreciation would really be a delight.

[INFRACTION]

yes yes .... sa mga nag tago sa ilang mga dollars diha... ayaw na lang mog dahom... money change na dayun mo samtang dako pa ang balor sa piso kontra dolyar....

[grabehbebe]

Traders see peso hitting 46 to dollar

Traders expect the peso to hit 46 to the US dollar within the first quarter of the year on rising dollar inflows from remittances and investments and continued positive sentiment on the economy.

The Bangko Sentral ng Pilipinas said a survey of currency traders showed optimism that the peso may return to the 2000 level before it plunged to 54 mainly on political turbulence.

The BSP source did not provide details on the survey.

The source said on the same survey, election concerns provide the downside to the otherwise optimistic outlook on the currency.

The BSP said that based on traders’ outlook, the peso may go back to the 52 level if fears on political uncertainties turn to reality.

BSP Governor Amando Tetangco Jr. acknowledged the range as "too wide" but said the positive developments far outweigh the potential setbacks.

Tetangco said the peso remains on upward trajectory this year anchored on robust flows from remittances and investments in the equities market.

Tetangco said the sentiment remains favorable owing to the continued improvement in the government’s fiscal fundamentals.

The BSP sees the peso at a range of 50-52 this year, better than 51-53 last year.

The currency ended the year at 49.03, gaining 8.3 percent for the whole year, the fourth best-performing currency in the region next to the Thai baht, Indonesian rupiah and Singapore dollar.

The peso breached the 48 level in early January as inflows remained strong while demand was weak.
Jonas Ravelas, market strategist at Banco de Oro Universal Bank, said the 46-52 range is possible given the May elections.

"You have the midterm elections to factor in," he said.

He said during the Estrada administration, the peso was trading at the mid-40 level then pummelled rapidly to the 50 territory when the impeachment process against him set in.

"The peso was in 46 then dropped to 54 in just one day," he said.

"There’s the election uncertainty so there will be volatility in the exchange rate," he said.
Further, Ravelas said there might also be a correction at the stock market.

"The market grew by 42 percent last year. So, the market can expect some profit taking, there will be demand for dollars. But January to March are not remittance months," he said.

He said investment inflows can be expected in January because "all the good news are out" but this will be offset by the demand for the dollar in the next two months.

Ravelas said a "more reasonable" range for the peso for the first quarter is 47.50-49.
He said for the full year, the peso may average at 47.50-52.

http://www.malaya.com.ph/jan08/busi1.htm
BY MAX ESTAYO

[junmar4]

unya unsa man kaayohan nahatag sa pag-us-us sa value sa dolyar? Nafeel nimo?

[pandisal]

ask lang ko, do you expect for immediate or drastic things to happen? coz if you do... your' out of luck... its for the stability of the
economy... not some immediate $$$ for your pocket ang resulta sa sa pag "us-us" sa dolyar. :P

unya unsa man kaayohan nahatag sa pag-us-us sa value sa dolyar? Nafeel nimo?

[bcasabee]

^^^....stable economy equals more investors equals more jobs .......

[Kabayong Bayot]

The wannabee economist are gloating over the peso rise. They didnt whats the implication. Even traders are alarmed of the rising peso because it will lose our competitiveness with other countries.

What they see is the myopic view that a rising peso is always positive for the economy which is far from being true.

[dexterdal]

mao nay sayop ninyo, lugi ghapon ta gawas, kay mag padala sa ato ug dollar lugi ka sa conversion, then ang mga prices... same ra ghapon. Daghan mo lugi kung mag cge naog ang peso, ang ganansya is ang goberyo ra

[junmar4]

wala man sila dollar. sige lang in he long run. kanus-a ra gud tawn ni niubos ang value sa dollar, but still, ang presyo sa panaliton ug plitihan naggsaka lang gihapon!