Forex Indicators

Peso-dollar exchange rate?

I just found out recently from a friend of mine that the present forex rate in the Philippines is 46 pesos to a dollar. Do you think that this trend is gonna continue? Will the peso keep going up and the USD keep going down? Or is this just because of the Iraq war? All of my savings in the Philippines are in US dollars. I put them in when it was still 50 to 1$, so I'll definitely loose a lot if this goes on. I just want your opinion. I'm thinking of just changing all my savings to pesos. Would that be a good idea?

Public Comments

1. as of today, peso-dollar exchange is $1=46.6 lately, peso is getting stronger.. but we can never tell the trend.. should you decide to sell your dollar, let me know.. i'm interested :D
2. Lately the Forex market has been good for Asian currencies vs the dollar. The Peso and the Korean Won have both gotten a lot stronger over the last couple years vs. the dollar. These things can go up and down so I wouldn't change anything yet. There are websites that track these changes on a daily basis.
3. My biggest concern with transferring the savings would not be the exchange rate but the insurance. My accounts in the states are insured by the feds for up to $100,000. The amount here (I forget what it is.....it is up in every bank) is a lot less, I think around PHP200,000. I feel safer with my long term savings in the states as well as all investments. That all being said, I do believe that the peso will continue to strengthen against the dollar.
4. currently 1 USD= 46.5 pesos.. lately peso has been gaining but i think that is because dollar has been declining against all currencies
5. The Rate & Return over 10 years has been a nightmare. The Philippine Peso and the Korean won noth realy. Yes thay have imrpoved slightly from no growth to nothing. Peso: was what 56 or soething to a dollar 8 years ago or so and some up and down,but alwasy ends up down.so what maybe a .002 percnt return for 8 years--- you would be better in a savings and you will never hear anyone say that!! Korean won : The same situation realy. They paid back a IMF loan some time agi maybe 10-11 years. The won got devalued and jsut stayed there for quite a while even with a economy that has heated up at times. It was maybe 1280 to the and has taken untill I think about a year ago before it got under 1000, So over the time your return hasnt been good, lets see if the improvement will prove stable . I dont care what anyone says, I do not see the legitimacy in the Asian markets. I have traveled Asia many more times than I care to again, and it is corupt unlike anything we can imagine. I know your billionaire types want to hype it as they have lots invested - but when you have a few billion dollars spread around i- when you get a stinker it dosent smell as bad.. Hype and not safe in my opinion.
6. i work for an insurance company and most of our clients are putting their US dollar savings into our investment-link insurance products. so far, it's doing pretty well than expected. rather than converting your dollars to peso, why not try to find a good investment vehicle for your dollar savings account. try not to be hasty because these things do change all the time and often without warning.
7. This is just my personal opinion,,,,the USA is headed for recession, thet will make the depression of the late forties, look like a picnic. Gas prices will ruin our economy,,but Bush and Cheany will laugh all the way to the bank. I expect the dollar to lose GREATLY!! I have invested all I have, in beer!
8. As with all other currencies;they fluctuate day to day,minute by minute.It's hard to say to any degree what will happen tomorrow,next month or next year.If your savings are over $10,000- it might be worthwhile to see an Accountant with good knowledge of the Philippine Economy.An Investment Ad visor from a Bank is also good.If I were you I would put a certain amount of my savings(converted to PHP) into a (Long)Term Deposit with a high interest gain,so that you don't lose any of your Capital due to Inflation.Keep the remainder in a high interest gain account and when and if the rates rise above USD1/PHP50 transfer a certain amount into your Term Deposit.I hope this makes sense.Also think about Investing(buying) in Property. Keep in mind that the rates on www.XE.com are mid-rates!Converting USD to PHP you would be selling USD and buying PHP, so always check the "sell" rates.
9. Look ! I am not a financial advisor. But If I were you, I would change my dollars into pesos now. And then keep track of it. The Philippine pesos is not going up. it is the dollar that is going down. I have watched the peso go from 55 pesos to 1 dollar to its present state. It is a mistake to have dollars in their banks. It is up to you what you do with this information.
10. well, it's the dollar that is depreciating in value.. possible options are.. to put your dollars in an investment that gives a higher return than regular savings.. like mutual funds; exchange them to a stronger currencies, like euro and put them in a higher-yielding investment; but if you want them converted to peso, I would suggest investing them in something other than savings.. you can put them in mutual funds or you can use them in stock trading.. you must learn how to play in the stock market though you have the final decision :)
11. Definitely no stick with the dollar