Where will the US $ stop?

[Monseratto]

Ever since nag labas yung Jueteng and "Hello Garci?" scandals, the US$ has moved steadily upward. After holding steady at the 54-54.80 PhP/ $1 level for 3-4 months, it is about to break the 56 PhP / $1 level. Todays close is 55.74 PhP/ $1. Do you think it will get past the 56.50 PhP level and beyond? World Oil Prices are also at a record high now, paano na naman to?

[koppee1]

actually, if you start with say....President Marcos...the peso to dollar ration has always been on the rise. Sure, every now and then there will be times when the peso rises in comparison to the dollar, but it's a sure thing. The peso to dollar ratio will eventually go up. In the short run, the graph goes up and down, but in the long run, it's a steady climb. Just recently I remember the news making a big deal of the peso going up to 54 from 55 plus...but now it's back to 55 plus again....I think it's a sure thing that eventually, it will always go up.

[Mushi Mushi]

Can any of you remember the time back in 1995 yata, when the minimum fare sa jeepney was 75-centavos only? I think the peso exchange rate back then was around P24 to $1. :praning:

[creepy]

The US$ is already past P55.9+ today. Dunno if it will close at P56.00...

[jds]

It's mainly brought by political uncertainties and also afected by the regional curency devaluation. Singapore dollar, Thai Bath, eh down din sila.

Hanggang saan tataas yung USD? Depende na yan cguro kung hanggang kelan tatagal si Gloria in the midst of the scandal hounding her presidency and her family.

[Juan Tamad]

The US$ is already past P55.9+ today. Dunno if it will close at P56.00...

$ closes today at 55.64 ... I think this is just the start of the impending collapse of the peso especially if mass protest in the streets has started..

[blueknight1968]

Before the allegations of election fraud and involvement of the First Family in jueteng operations, the peso has been on an appreciating/strengthening trend. For most of 2004, the exchange rate hovered around US$1:PhP56. For the first half of 2005, this was up to around US$1:PhP54-55 on account of rising OFW inflows, increasing export receipts, credit rating upgrades, and improving fiscal situation as a result of the enactment of the e-VAT law and tightened tax administration/collection. However, we cannot ignore that other factors, aside from demand and supply conditions in the foreign exchange market are going to determine the exchange rate. Rightly put by the other posters, non-economic factors such as the political uncertainties are putting pressures on the exchange rate.

The long-term trend may appear to show a depreciating trend but it does not have to stay that way. If we can just reduce our foreign borrowings, increase our exports, attract more foreign direct and portfolio investments, increase our OFW inflows, reduce our dependence on oil imports, and grow our economy faster, the depreciating trend can be reversed. O nangangarap lang ako.

[koppee1]

The long-term trend may appear to show a depreciating trend but it does not have to stay that way. If we can just reduce our foreign borrowings, increase our exports, attract more foreign direct and portfolio investments, increase our OFW inflows, reduce our dependence on oil imports, and grow our economy faster, the depreciating trend can be reversed. O nangangarap lang ako.

Hopefully this does happen. But I think corruption is so rampat in our government that no matter who is the president, nothing will really change. How can you change when everyone else below you is corrupt? I think if Macapagal steps down there isn't really any difference either. The next one is bound to have skeletons inside his or her closet as well. Do we really still think that people run for government because they want to help the country? :p

[BlueBimmer]

Peso-Dollar Exchange Rate As of July 27, 2005 4:45 PM
Official Rate from the Philippine Dealing System
PDS Close Previous Close
P56.175 = $1.00 56.000

Open 56.100
High 56.200
Low 56.100
Close 56.175


we r doomed!

[BlueBimmer]

hey at least it closed lower today than yesterday..hehe