The Philippine peso: Strongest currency in Asia! GOOD NEWS

[samsungster]

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mid-trade almost flat, peso at 52.075 as of 1pm.

[jerx d great]

Murag close to 52.50 na siguro. Wa gihapon epekto, nagkamahal na nuon palitonon!

tungod nas evat bro!!!

[P-Chan]

all the planning... ASA pa na ma hitabo! kurakot kaayo ang goverment.. too polluted ra kaayo ang atong country with other country that i dont see the "pinoy"

[samsungster]

due to foreign buying of philippine stocks. the currency was also supported by prospective foreign capital inflows for the P8.5-billion initial public stock offering of other corporations...

[grabehbebe]

Peso back to 51.09:$1


The peso broke above the 51 level against the dollar anew yesterday but retreated on the back of demand from corporates and the intervention of the Bangko Sentral ng Pilipinas.

The peso opened at 51, stronger than Tuesday’s close of 51.045 against the dollar. It traded between 50.96 and 51.10 due to remittances from Filipino overseas workers and reportedly to BSP intervention.
Traders said trading of the peso will be range-bound, hovering between 50.90 and 51.20 in the near term unless significant support levels are breached.

International Exchange Bank treasurer Ed Bunyi said the peso actually depreciated from Tuesday’s levels, with the peso closing weaker at 51.09, because of some corporate demand.

Bunyi said the peso’s trend is for an appreciation because remittances from Filipino migrant workers were coming in for the payment of school tuition. Eileen A. Mencias

http://www.manilastandardtoday.com/?...5_april06_2006

[cool]

maayo they keep to peso sa P50-51 but the question is for how long. they should be able to keep that rate because the phil has a high remittance from abroad. mora mag i smell something fishy basig dowa ra na sa governo. but it is possible to keep it low because of the high remitance, well just watch for how long.

[mosimos]

Peso 51.20 na sad. nagkaubos.

[tolstoi]

nagkaubos tungod sa mga pagsamok-samok sa mga opposisyon sa atong ekonomiya

[grabehbebe]

UBS now sees peso climbing to 50:$1

UBS AG, a Swiss investment bank, expects the peso to strengthen to 50 against the US dollar this year and further to 49 next year on strong growth of remittances from Filipino workers overseas and recovery in the country’s merchandise exports.
UBS’ latest projection is rosier than its earlier forecast of 52 against the dollar this year and 51 next year.

The continued rapid growth of overseas remittances prompted the investment bank to revise its foreign exchange forecast for the year and next year.

The Bangko Sentral ng Pilipinas reported last week that remittances rose 12.5 percent to $1.8 billion in the first two months of the year from $1.6 billion year-on-year. The government expects remittances this year to grow 10 percent to close to $12 billion this year from $10.7 billion in 2005.

The investment bank said the country’s rising current account surplus was also a key driver to the strengthening of the peso since early last year.

UBS added that OFW remittances more than offset the lackluster performance of the export sector last year. The country’s merchandise shipments grew only 3.9 percent to $41.22 billion, way below the 10 percent growth aimed by the government.

The National Statistics Office said the country’s merchandise exports inched up 4.2 percent to $6.56 billion in the first two months of the year from $6.29 billion in the same period last year.



-By Lawrence Agcaoili
http://www.manilastandardtoday.com/?...4_april17_2006

[mosimos]

Peso is now 51.34. (ala London bridge) Peso value is going down, going down, going down, peso value is going down bad news , GMA. :mrgreen: