The Philippine peso: Strongest currency in Asia! GOOD NEWS

[grabehbebe]

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Also, officials from Swiss financial giant UBS are positive that the peso will remain its position against the dollar due to the improvement of our economic outlook. They are expecting that in no time the peso will reach P49.25.

[grabehbebe]

Peso gets stronger, hits 4-1/2 year high

REMITTANCES and “hot money” flowing into the stock market continued to boost the peso despite an easing of monetary policy that was supposed to weaken it.

The peso opened at a four-and-a-half-year high of P49.66 against the dollar yesterday, its strongest for the day, but weakened to P49.73 before finally closing at P49.72. That was slightly higher than its Wednesday close of P49.735.

Turnover totaled $357.8 million, just a tad higher than Wednesday’s $356.03 million, with the peso averaging P49.689 against the greenback.

Economists see an exchange rate of P48.50 to the dollar by the end of the year because of strong remittances from Filipinos abroad and stronger-than-expected export sales. But foreign exchange traders are wary of central bank intervention that has been capping the peso’s appreciation.

Former National Economic and Development Authority chief Cielito Habito sees the peso rising to P48.50 to P49.25 against the dollar, and Felipe Medalla, another former Neda head, sees it appreciating to P48.50.

Jonathan Ravela, chief market strategist of Banco de Oro universal bank, said the market would now test the next level of P49.50 against the dollar.

A trader from a foreign bank said the peso would range between P49.60 and P49.95. But it should reach P49 by December because of surging remittances and weak corporate demand for dollars.

Traders said an easing of monetary policy either through the so-called tiering plan or interest rate cuts would not affect the peso-dollar rate.

JP Morgan Chase Bank said the foreign exchange risks from the tiering scheme were limited as three-month forward dollar contracts still suggested a continuing peso appreciation.

---http://www.manilastandardtoday.com/?page=news1_nov24_2006

[baron]

^ Another record which tacitly states that we are reaping the efforts of the economic reforms set forth by this administration. With the continuous appreciation of peso coupled with other positive economic indicators we currently have, we can sustain this economic stability.

[sumaganday]

So wat kung ni strong ang peso. Mao ra man gihapon. Way kausaban. In fact wa epek bisan sa ratings ni GMA.

Wa tagda sa mga tao.

[bcasabee]

Anyway....Ang maka paasenso sa tawo ang iya mang pagka utokan ug pagpaninguha......

Bisan unsa ka datu sa ato nasud...kung ang tawo magsige nalang ug reklamo ug magsige nalang ug tinapolan...dawat limpyo....rally ray panginabuhi...tagaan ug 300 para modala ug placard...makontento na dayon....pobre ra gihapon nang mga tawhana...pusta-anay pa...........

Ang japan bitaw, datu mana sila, naa man gihapon pobre.........Paninguha mo uy kung ganahan mo mo-asenso kay kasagaran nato gi anak man nga equal ra ug economic standing pero ang uban ning asenso man....so there is no reason nga ang uban dili pud mo moasenso........

So wat kung ni strong ang peso. Mao ra man gihapon. Way kausaban. In fact wa epek bisan sa ratings ni GMA.

Wa tagda sa mga tao.

[baron]

The peso gets stronger at P49.58 yesterday. This will certainly give way for more of our investors to be confident with the state of our economy. As far as the news is concerned, the peso set another record high after four and a half years.

[tolstoi]

thanks to our most capable leader in Phil. history..MADAM EL PRESIDENTE GLORIA MACAPAGAL ARROYO :mrgreen:

[sumaganday]

w

thanks to our most capable leader in Phil. history..MADAM EL PRESIDENTE GLORIA MACAPAGAL ARROYO :mrgreen:

[tolstoi]

^^awa react lagi dayun c pareng mosimos..mustamos me amigo..long tym no post

[digitalsuperman]

^huh? tinuod? kaila lagi ka bai?..hahaha..