The Philippine peso: Strongest currency in Asia! GOOD NEWS

[hobie]

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Murag ang crude oil gyud ang primarily ga dictate sa world trade kay affected mn tanan commodities

[Rance]

Peso to climb further
http://www.sunstar.com.ph/static/ceb...b.further.html

The Philippine peso will be the "almighty currency" by the year-end, climbing up to the P38 level versus the US dollar.

This, said Rolando Avante, executive vice president and treasurer of Chinatrust Philippines Commercial Bank Corp., is how the bank looks at the peso and the Philippine market, in general.

“We will still see the almighty peso rise to P38 by end of 2008, or an eight percent growth rate,” he said during an economic briefing at the Casino Español de Cebu last Thursday.

Avante said the Philippine economy, however, will have a “more challenging” times ahead because of political issues.

Although the country’s economic environment will be dependent on how the global market performs, any political turmoil will always be a threat to the economy, Avante said.

“It makes investors and foreign market players more cautious because they don’t know how it (turmoil) develops,” he said.

Avante pointed out, though, that the recent controversy involving the Arroyo administration has caused a “positive turn,” in relation to the volatility of the currency.

“The uncertainty of the political situation helps stabilize the peso at the P40 level. Otherwise, we could have seen the peso appreciate more,” he said.

Contrary to the warnings of exporters and overseas Filipinos, the Philippines will continue to attract foreign investments, especially in the mining sector, even if the peso goes up to 38 against the greenback, Avante said.

The Philippines ranks fifth among countries that have large mineral deposits.

“Still, the attractiveness of the country will be dependent on what is the long-term outlook of the peso in the local and global market,” Avante said.

In a presentation, he cited the continued inflows of foreign direct investment, remittances from overseas Filipino workers (OFWs), portfolio investment flows, weakening of the US dollar and wide interest rate differentials as the factors that drive up the peso’s value.

OFW remittances, which hit $14.4 billion in 2007, are expected to go up further this year.

Avante said more money transfers are expected due to the partnerships between banks and telecommunication companies.

“(But) up to what point can it (remittances from OFWs) make the peso appreciate” considering that it accounts for about 10 percent of the nominal gross domestic product?” he asked.

“Like a snow on top of a mountain, it’s a question of when it will fall,” he said.

[pandisal]

ngek... gamay ang dawat sa mga mama/papa/bunso ug uban pa, ani! :P sige lang... adjust lang ang lifestyle sa current peso to dollar exchange! :P

[LytSlpr]

Peso to climb further

The Philippine peso will be the "almighty currency" by the year-end, climbing up to the P38 level versus the US dollar.

This, said Rolando Avante, executive vice president and treasurer of Chinatrust Philippines Commercial Bank Corp., is how the bank looks at the peso and the Philippine market, in general.

“We will still see the almighty peso rise to P38 by end of 2008, or an eight percent growth rate,” he said during an economic briefing at the Casino Español de Cebu last Thursday.

Avante said the Philippine economy, however, will have a “more challenging” times ahead because of political issues.

Although the country’s economic environment will be dependent on how the global market performs, any political turmoil will always be a threat to the economy, Avante said.

“It makes investors and foreign market players more cautious because they don’t know how it (turmoil) develops,” he said.

Avante pointed out, though, that the recent controversy involving the Arroyo administration has caused a “positive turn,” in relation to the volatility of the currency.

“The uncertainty of the political situation helps stabilize the peso at the P40 level. Otherwise, we could have seen the peso appreciate more,” he said.

Contrary to the warnings of exporters and overseas Filipinos, the Philippines will continue to attract foreign investments, especially in the mining sector, even if the peso goes up to 38 against the greenback, Avante said.

The Philippines ranks fifth among countries that have large mineral deposits.

“Still, the attractiveness of the country will be dependent on what is the long-term outlook of the peso in the local and global market,” Avante said.

In a presentation, he cited the continued inflows of foreign direct investment, remittances from overseas Filipino workers (OFWs), portfolio investment flows, weakening of the US dollar and wide interest rate differentials as the factors that drive up the peso’s value.

OFW remittances, which hit $14.4 billion in 2007, are expected to go up further this year.

Avante said more money transfers are expected due to the partnerships between banks and telecommunication companies.

“(But) up to what point can it (remittances from OFWs) make the peso appreciate” considering that it accounts for about 10 percent of the nominal gross domestic product?” he asked.

“Like a snow on top of a mountain, it’s a question of when it will fall,” he said.

[lestat1116]

hay salamat 40.90 na ang exchange rate.

[Rance]

Govt debt drops 3.6% in 2007 on strong peso, loan repayments
http://business.inquirer.net/money/t...oan-repayments

The government ended 2007 with total outstanding debt of P3.712 trillion, down 3.6 percent from the previous year following loan repayments and the peso's big gains against the US dollar, official data showed on Wednesday.

[vigita]

ok phil peso currency go up pero nimahal man hinoon ang gasolina ug palaliton.ambot ani a2 goberno oi!

[neji]

Philippine peso … the strongest currency in Asia :mrgreen:
PHILEQUITY CORNER By Ignacio B. Gimenez
The Philippine Star 10/24/2005

i wish...

[Vince Russo]

On the news today: 41.45 per USD.

[NASYO]

VERY BAD NEWS

POWER OF PESO STILL CONTROLLED BY IMF WB..