P37.50 vs US dollar by year-end - Goldman Sachs

[Hammer_and_Sickle]

---

mg-palit ko ug dagum na balig 37.50 ug akong i-tusok sa akong mata if mahetabo na,..bot2x sa nag mugna ani, mga botboton, hahaha

[seven_segment]

P37.50 vs US dollar by year-end - Goldman Sachs
By Jennifer A. Ng, BusinessMirror
Posted at 02/01/2013 9:35 AM | Updated as of 02/01/2013 6:14 PM

MANILA, Philippines - The peso-dollar exchange rate may settle at P37.5 by the end of 2013 due to continued strong domestic growth as well as broad US dollar weakness, according to investment banking giant Goldman Sachs.

Mark Tan, executive director for global economics, commodities and strategic research of Goldman Sachs’s Global Investment Research, said trade flows, foreign direct investments and strong remittance and portfolio (“hot” money) inflows will also impact on the appreciation of the peso.

In its report titled “Asia Economics Analyst,” Goldman Sachs noted that currencies across the Association of Southeast Asian Nations (Asean), including that of the Philippines, will appreciate until 2014 due to the weakness of the greenback.

The investment bank projected that the Philippine peso will further appreciate to P35 against the greenback in 2014 and will go back to the P40 level in 2015.

“Later, as improving US growth and approaching Fed tightening help the dollar to rally, the currencies of Asian countries excluding Japan [AEJ] tend to depreciate,” the report read.

On Thursday the peso opened at P40.653 against the greenback.

The continuous appreciation of the peso has raised concerns among companies in the business-process outsourcing (BPO) sector, exporters and overseas Filipino workers (OFWs) who send money to their families in the Philippines.

Meanwhile, Goldman Sachs said that it expects Philippine economic growth to moderate in the years 2013 to 2014.

For this year, gross domestic product (GDP) growth for the Philippines is projected by Goldman Sachs at 5.5 percent. For 2014 Goldman Sachs sees GDP growth at 5.5 percent, 5.6 percent in 2015 and 5.8 percent in 2016.

The Philippines posted a GDP growth of 6.6 percent in 2012. This figure is higher than the 5.9-percent economic growth forecasted by Goldman Sachs for the country last year.

Research group IBON said the economic growth posted in 2012 is a “jobless growth.” IBON estimates that the number of unemployed Filipinos increased by 48,000 to reach 4.4 million and the number of underemployed by 349,000 to 7.5 million in 2012.

“Government’s hype is meant to create an appealing image of the Philippine economy for foreign investors, even if the growth figures are meaningless to the ordinary Filipino,” the group said in a statement.

Source: P37.50 vs US dollar by year-end - Goldman Sachs | ABS-CBN News

patay!daghan jud maigo samot ani.. JPY gani karon kay nsa 44 or 4,400 nlng.. paetah!

had talked some of the bankers (managers)...

i don't know if its true...pero ingon sila, ira ra gani gi-respetohan...kay actually they don't need to buy dollars at P40 sa karon...pwede ra jud daw at P35 down to P32...

dollars are coming in due to a lot of investments coming in...

respeto na lang daw sa economy ang P40.....OFW's...EPZA...BPO's...etc...

i don't know am not a bank guy or the economist type...

[anubiz]

P37.50 vs US dollar by year-end - Goldman Sachs
By Jennifer A. Ng, BusinessMirror
Posted at 02/01/2013 9:35 AM | Updated as of 02/01/2013 6:14 PM

MANILA, Philippines - The peso-dollar exchange rate may settle at P37.5 by the end of 2013 due to continued strong domestic growth as well as broad US dollar weakness, according to investment banking giant Goldman Sachs.

Mark Tan, executive director for global economics, commodities and strategic research of Goldman Sachs’s Global Investment Research, said trade flows, foreign direct investments and strong remittance and portfolio (“hot” money) inflows will also impact on the appreciation of the peso.

In its report titled “Asia Economics Analyst,” Goldman Sachs noted that currencies across the Association of Southeast Asian Nations (Asean), including that of the Philippines, will appreciate until 2014 due to the weakness of the greenback.

The investment bank projected that the Philippine peso will further appreciate to P35 against the greenback in 2014 and will go back to the P40 level in 2015.

“Later, as improving US growth and approaching Fed tightening help the dollar to rally, the currencies of Asian countries excluding Japan [AEJ] tend to depreciate,” the report read.

On Thursday the peso opened at P40.653 against the greenback.

The continuous appreciation of the peso has raised concerns among companies in the business-process outsourcing (BPO) sector, exporters and overseas Filipino workers (OFWs) who send money to their families in the Philippines.

Meanwhile, Goldman Sachs said that it expects Philippine economic growth to moderate in the years 2013 to 2014.

For this year, gross domestic product (GDP) growth for the Philippines is projected by Goldman Sachs at 5.5 percent. For 2014 Goldman Sachs sees GDP growth at 5.5 percent, 5.6 percent in 2015 and 5.8 percent in 2016.

The Philippines posted a GDP growth of 6.6 percent in 2012. This figure is higher than the 5.9-percent economic growth forecasted by Goldman Sachs for the country last year.

Research group IBON said the economic growth posted in 2012 is a “jobless growth.” IBON estimates that the number of unemployed Filipinos increased by 48,000 to reach 4.4 million and the number of underemployed by 349,000 to 7.5 million in 2012.

“Government’s hype is meant to create an appealing image of the Philippine economy for foreign investors, even if the growth figures are meaningless to the ordinary Filipino,” the group said in a statement.

Source: P37.50 vs US dollar by year-end - Goldman Sachs | ABS-CBN News

patay!daghan jud maigo samot ani.. JPY gani karon kay nsa 44 or 4,400 nlng.. paetah!

hahahaha alangan ang fed. reserve patuyang lang buhat ug kwarta... sege bailout = more money on the street = weak money value = more slave for the fed. reserve

[mio]

Wew, lami-a ipalit ug dollar. Ang bati sad, nig balik dire kai gamay ra kayog ginansya. Guba ako plano da.

[KlaytoN]

It's time for our OFWs to reassess their priorities and start saving into profitable investments for the future.

[Joseph20102011]

As long as we cannot attract large-scale foreign direct investments (due to constitutional restrictions on foreign equity ownership to 40%) to create jobs and improve our infrastructure to cover up the massive appreciation of the US Dollar, it would be a disaster for our economy that relies on OFW remittances, BPO revenues, and foreign portfolio investments which only few segments of the population benefits from it.

[sizzlingROBOT]

I echo your sentiment. It does not make sense ning kusgan ang peso against the dollar kai mahal gihapon ang gasolina.

by year end ang $1 = 37.50 php unya ang gasolina kay tag 60 ang litro then ang pletehan kay tag 10.00, maka ingon jud ta ani og gibangas na

[rickflag]

Kusgan ang peso, so what? wa gihapoy effect. our cost of living here is increasing, even our electricity cost is the most expensive in Asia.

I hope those who believed that the strong peso are right, that this is really good for us and the effects will trickle down after some time.

[edoy]

dugay man gud na mo effect ang strong peso-dollar exchange rate vs actual economic status sa Pilipinas, it will not work like magic, na inig ubos sa dollar value kay mo ubos pud dayon ang ubang presyo / value sa mga basic commodities, maybe it take more years kay naa man nay gi ingon nga naay hierarchy of benefits.....dili jud na ingon nga direct benefit jud na ngadto to the lowest levels.but a strong peso currency shows positive growth of Philippine economy, basta ayaw lang mo kabalaka sa kadugayan kita ra gihapon ang mabulahan ani pero di pa karon maybe 5 or 10 years pa.Basta always look for a better and a positive long term effect.medjo dili kaayo nato ma feel karon pero sa hinay adto gihapon ta padulong sa pagbarog ug paglig-on sa atong economiya sa Pilipinas.

[edoy]

luoy ang OFWs ani ug kato ga trabaho sa Odesk

look for bettter alternatives/options .walay angay kabalak-an basta kahibaw lang jud ta mo diskarte pag pangita ug laing paagi sa other source of income.