# USD/PHP Conversion Rate



## HVACman (Jul 27, 2011)

I'm assuming many of you are watching the conversion rate change rather dramiticly in the past few days. Anyone know what's driving it?


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## overmyer (Aug 15, 2013)

HVACman said:


> I'm assuming many of you are watching the conversion rate change rather dramiticly in the past few days. Anyone know what's driving it?


A combo of the dollar strengthening on belief that the Fed is going to slow the printing of funny money and the Peso weakening on market instability caused by the current budget bruhaha.


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## raconnor (Oct 30, 2012)

I know that the whole pork barrel scam is a bad mark on the Philippines, but I secretly have been smiling about it knowing that it will cause the peso to weaken and make my USD go further here...


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## M.C.A. (Feb 24, 2013)

This year is really turning around just 4 peso's more really helps, I haven't checked the current rates but last time it was 44 peso's to the dollar.... I've noticed the difference, I used to use the money changer for some quicker money, I sometimes don't like to wait 30 days but now his exchange rate is so bad it's 36 peso's to the dollar and I've used him for two decades, I stopped cashing small checks with him and just added that to my monthly deposit.


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## JimnNila143 (Jul 23, 2013)

We do all of our money dealings with our bank and have never had a problem. You have to be very careful with money changers, some can be con artists. My wife and I both had incomes and we never carry large amounts of pesos on us. We carry only what we need and if there is an emergency we can get to our bank.


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## overmyer (Aug 15, 2013)

HVACman said:


> I'm assuming many of you are watching the conversion rate change rather dramiticly in the past few days. Anyone know what's driving it?


Big jump this morning! It's at 44.63!


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## overmyer (Aug 15, 2013)

JimnNila143 said:


> We do all of our money dealings with our bank and have never had a problem. You have to be very careful with money changers, some can be con artists. My wife and I both had incomes and we never carry large amounts of pesos on us. We carry only what we need and if there is an emergency we can get to our bank.


You can get better rates (most of the time) from a money changer but its best to use a larger established business if you do so. Be aware of the prevailing rates though, I saw an outfit in the new Ayala Mall (in Talisay) that was quoting a rate of 41+ when everywhere else was giving 43+. My only guess was they were counting on tourists coming straight from the airport and nit knowing better!


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## overmyer (Aug 15, 2013)

overmyer said:


> You can get better rates (most of the time) from a money changer but its best to use a larger established business if you do so. Be aware of the prevailing rates though, I saw an outfit in the new Ayala Mall (in Talisay) that was quoting a rate of 41+ when everywhere else was giving 43+. My only guess was they were counting on tourists coming straight from the airport and nit knowing better!


Just now got 44.35 at our xchange and the best bank rate (BDO) was 44.18 (our bank was only giving 43.55)!


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## lefties43332 (Oct 21, 2012)

I exchanged at 44 yesterday,,will transfer again when it goes up more.


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## Asian Spirit (Mar 1, 2010)

lefties43332 said:


> I exchanged at 44 yesterday,,will transfer again when it goes up more.


I have a feeling that if the US and other countries get into it with Syria, it will hit 50% and probably higher. Looks like a wild ride with the exchange rate for a while..


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## lefties43332 (Oct 21, 2012)

44.60 at bdo sbma tonight


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## jdavis10 (Oct 1, 2012)

Very smart Jim.



JimnNila143 said:


> We do all of our money dealings with our bank and have never had a problem. You have to be very careful with money changers, some can be con artists. My wife and I both had incomes and we never carry large amounts of pesos on us. We carry only what we need and if there is an emergency we can get to our bank.


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## juanico (Aug 22, 2013)

same development happens with the Euro...its on the rise.
and not only in the Phl, also in other emerging markets like India, Thailand, Indonesia...
recently i have read that its mainly caused by foreign investors pulling out their capital of those economies...but forgot the reason why...


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## M.C.A. (Feb 24, 2013)

Thanks for sharing that juanico, it makes sense, I thought it was due to getting us (US) out Middle Eastern countries, war drawing down and cutting down the military contractor work force and military cuts or the Budget sequestration, what ever it is I sure hope it continues.

I don't blame other countries for pulling out their money, as a foreigner business owner you create jobs here and your stuck with a 40/60 ownership with the government, I think the same formula as China, what a raw deal.


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## overmyer (Aug 15, 2013)

mcalleyboy said:


> Thanks for sharing that juanico, it makes sense, I thought it was due to getting us (US) out Middle Eastern countries, war drawing down and cutting down the military contractor work force and military cuts or the Budget sequestration, what ever it is I sure hope it continues.
> 
> I don't blame other countries for pulling out their money, as a foreigner business owner you create jobs here and your stuck with a 40/60 ownership with the government, I think the same formula as China, what a raw deal.


Read yesterday that the Phil gov has revised its rules on foreign ownership regsrding rural banks. They now allow foreign banks with established "global reputations" (ie, Chase, Citi, HSBC, etc) to hold upto 60% ownership in Rural Banks. Hopefully, that will spread to the rest of the business sector and oneday they will wise up and ease restrictions on private ownership.


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## HVACman (Jul 27, 2011)

Gene, you called it...

Dollar rises to four-week high as Syria spurs demand for safety | Reuters


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## Asian Spirit (Mar 1, 2010)

HVACman said:


> Gene, you called it...
> 
> Dollar rises to four-week high as Syria spurs demand for safety | Reuters


Just a lucky guess I think. Maybe I should go into business and play the markets. Then again, my wife would probably shoot me if I were to risk cash that way ainkiller:...


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## Phil_expat (Jan 3, 2011)

I invest in the stoke market and have notice a pattern. When the economy is up people invest and corporations spend money on various things. Since there is now less liquid cash the exchange rate goes down. When the stock goes down inverters and corporation hold on to cash and the market goes up. There is no formula that works all the time or we all would be billionaires’!


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## M.C.A. (Feb 24, 2013)

*excgange rate*

I noticed the dollar turn around I think the second quarter of this year and never seen it coming all I remember was last year the dollar got as low as 39 peso's.... that hurt the pocket-book and using the money changer every blue moon was an even bigger drag, $100 exchange was depressing. 

I don't understand why war with Syria would make the dollar rise though? Hopefully we don't do this because previous Middle Eastern wars have been costly and I feel hurt the dollar, reason it dipped so low, huge debt.


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## HVACman (Jul 27, 2011)

mcalleyboy said:


> I noticed the dollar turn around I think the second quarter of this year and never seen it coming all I remember was last year the dollar got as low as 39 peso's.... that hurt the pocket-book and using the money changer every blue moon was an even bigger drag, $100 exchange was depressing.
> 
> I don't understand why war with Syria would make the dollar rise though? Hopefully we don't do this because previous Middle Eastern wars have been costly and I feel hurt the dollar, reason it dipped so low, huge debt.


I can't say I understand the Syria connection either, other than simple uncertainty it causes in the world. I can say that I noticed the dollar turn arround in the second quarter also. I believe that was due to the FED announcing it is, at least considering, the slowing of quantitative easing. What that means to me is that the US is slowing the printing of money and thus slowing the debasing if is value, making it's value less weak.


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## Phil_expat (Jan 3, 2011)

mcalleyboy said:


> I noticed the dollar turn around I think the second quarter of this year and never seen it coming all I remember was last year the dollar got as low as 39 peso's.... that hurt the pocket-book and using the money changer every blue moon was an even bigger drag, $100 exchange was depressing.
> 
> I don't understand why war with Syria would make the dollar rise though? Hopefully we don't do this because previous Middle Eastern wars have been costly and I feel hurt the dollar, reason it dipped so low, huge debt.


This is an example of what I said in my previous post. Investors were scared by the uncertain future because of a possible war and sold not buy stocks. The stock market fell drastically and the exchange rate went up. This happens a lot but nothing is for sure since so many things effect the economy. A lot of expats falsely believe that the exchange rate reflects the health of the dollar, not true. There is also another factor: Southeast Asia has the highest economy growth in the world! The pesos worth is not rock solid but increasing!


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## overmyer (Aug 15, 2013)

Sadly, we're back under p44 again (p43.81 as I write this).
I'm told that this id the result of a "worse than expected" US jobs report and that investors now expect the Federal Reserve to keep the presses running in order to keep the economy from stalling further!


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## lefties43332 (Oct 21, 2012)

overmyer said:


> Sadly, we're back under p44 again (p43.81 as I write this).
> I'm told that this id the result of a "worse than expected" US jobs report and that investors now expect the Federal Reserve to keep the presses running in order to keep the economy from stalling further!


im in navy seals bar today,,all vets.......nobody plans to go back to usa


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## Phil_expat (Jan 3, 2011)

The pesos dollar exchange rate does not reflect the state of the USA economy! Today investors did not feel the uncertainty of military involvement in Syria and bought stocks not sold. For 6 days the stock market has gone up and the exchange rate has gone down. The amount of liquid cash affects the exchange rate. 70% of the time when the economy is Positive Corporation and investors spend money but the exchange rate goes down because less liquid money is now available. In bad times everyone save (corporation and individuals) the stock market goes down and the exchange rate goes up! Log on to yahoo and graph the exchange rate (usdphp=x) and compare it to the SP500 or Dow Jones. It is not always true but the majority of the time.


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## billygoat (Aug 31, 2013)

lefties43332 said:


> im in navy seals bar today,,all vets.......nobody plans to go back to usa


wish i coulda been there


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## lefties43332 (Oct 21, 2012)

billygoat said:


> wish i coulda been there


Youre welcome there.......hooyah!


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## jon1 (Mar 18, 2012)

Hooyah's is a great place to be !!  been there and liked it very much!


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## lefties43332 (Oct 21, 2012)

Love my military pals. Good bunch. Read my new post jon,,did u see this?


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