The Philippine peso: Strongest currency in Asia! GOOD NEWS

[vladmire]

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good news for us(here in phil) and bad news for them(filipino in US)

[gerard]

good news for us(here in phil) and bad news for them(filipino in US)

d lang U.S.A bro tanang noypi working aboard...

[giddyboy]

our peso is getting weaker inch by inch.

today: USD 1 = PhP 41.608

yesterday: USD 1 = PhP41.51

possible causes:
(1) The U.S. dollar edged higher against the yen in Tokyo late Tuesday
(2) The dollar firmed against the euro on Tuesday after the US Federal Reserve, as widely expected, slashed interest rates to stave off recession in the world's biggest economy.

[img width=500 height=328]http://quotes.ino.com/chart/history.gif?s=FOREX_USDPHP&t=l&w=1&a=0&v=d3[/img]

[godsaint]

After this summer expect gyud na nga moubos pa gyud ang peso.Mao man tong nasaligan ta ang dollar gikan sa oFWs and tourist.After summer vacation ,menods na ang dollars nga mosulod.Then atong pangutan on si GMA sa iyang gipanghinambog nga strong currency daw.Nga gikan sa iyang pagka maayong economist.

[giddyboy]

After this summer expect gyud na nga moubos pa gyud ang peso.Mao man tong nasaligan ta ang dollar gikan sa oFWs and tourist.After summer vacation ,menods na ang dollars nga mosulod.Then atong pangutan on si GMA sa iyang gipanghinambog nga strong currency daw.Nga gikan sa iyang pagka maayong economist.

as per trending, mubawi ra ni ug strengthen ang peso during enrollment sa klase due to pouring again of OFW money...actually, bsan pa mu-weaken to 43-44, strong ra gihapon ang atoa peso.

other Asian currencies man pud parehas ni-weaken gmay.

[brad]

saka nag gamay.

sayop tong forecast sa jp morgan.

pila to ela end of year forecast sa dollar 41pesos

maong na biktima mo sa credit crisis kay mga amaw man mo. (joke lang)

[freeheeler]

http://www.abs-cbnnews.com/topofthehour.aspx?StoryId=112594

"It's going to be a hard year for us. Everyone will be affected. And the hurt will be deepest among the low-income families," Ernesto Pernia, a professor of economics at the University of the Philippines and former economic chief at the Asian Development Bank told abs-cbnnews.com/Newsbreak in an interview.

The United States, a major destination of our export products and the host of overseas Filipinos whose dollars account for half of total remittances to the country, is facing a looming economic recession or growth slowdown.

"We will probably start feeling the impact of the US slowdown by the second quarter, which is April to June, and up to the third quarter of 2008," added Pernia. "It also depends on how the US government stirs its economy. If they (US) don't recover by the third quarter, then most probably the Philippines will go through hard times the rest of 2008."

OFWs STRETCHED TO THE LIMIT

Pernia believes that the capacity of the overseas Filipinos to remit money home is being stretched to the limit because the peso equivalent of their previous remittances is just too much for them.

"The income of these remitters is not elastic. They cannot just continue to catch up. In other words, they are reaching their limit, and they cannot catch up," explained Pernia.

The peso has lost about 30 percent of its value against the dollar since early last year.

In addition, Pernia thinks that the host countries of the OFWs are also feeling the pinch, so some of the OFWs might have not received their usual salary increases, or worse, have been laid off, or are just working part time now.

About 50 percent of total remittances to the Philippines come from US and Canada. As the economies of other major host countries—Europe, Japan, Singapore, Middle East, Taiwan, Hongkong, etc—also slow down, Pernia thinks remittances to the Philippines will also be affected.

Thus, while it has been earlier predicted by bankers that the peso-dollar exchange rate will reach P38, Pernia thinks otherwise. "My prognosis for the peso is that it will probably oscillate between P40 and P43 or 45. I don't think the peso will go below P40, especially with this slowdown in the world economy."

[pandisal]

"Alkansi na mi sa among ginansya" ....

[ezekiel]

Patay akong kasmeyt nga eksporter ug handicraft ani ahehehe!!

[Rance]

Peso seen rising to 39.10:$1 this year
http://business.inquirer.net/money/b...9101-this-year

Lehman Brothers foresees the peso rising to 39.10 to a dollar by year's end before surging to 36.70 in 2009 but warned that remittances from overseas Filipinos could be a "double-edged" sword in this period of US-led global slowdown.