# Dollar could hit P50



## Ram1957 (Oct 14, 2014)

Peso may weaken to P50/$1 on Duterte worries, global risks: BMI Research | ABS-CBN News  :fingerscrossed:


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

*Exchange rate*



Ram1957 said:


> Peso may weaken to P50/$1 on Duterte worries, global risks: BMI Research | ABS-CBN News  :fingerscrossed:


This is be the best exchange rate since I've been here (6 years now) and the Christmas holidays always were depressing because the dollar rates would dip, sure would be nice to see that 50 pesos per dollar it all adds up for someone on a pension and lack of COLA increase and even better having a Philippine bank to give me a decent exchange rate the money changer at one time gave me 36 pesos on the dollar and so the next month after that I opened up a Dollar deposit account.


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## Ram1957 (Oct 14, 2014)

M.C.A. said:


> This is be the best exchange rate since I've been here (6 years now) and the Christmas holidays always were depressing because the dollar rates would dip, sure would be nice to see that 50 pesos per dollar it all adds up for someone on a pension and lack of COLA increase and even better having a Philippine bank to give me a decent exchange rate the money changer at one time gave me 36 pesos on the dollar and so the next month after that I opened up a Dollar deposit account.


When I was stationed at Clark 77-80 it was on the average of 7.4 pesos to the dollar. How times have changed. And that was under Marcos.


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## Asian Spirit (Mar 1, 2010)

We went to do the banking today to transfer US dollars into out peso account. We got 48.38 per dollar. Not bad I'd say and that 50% or more really could be just around the corner. Really does help..


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## Asian Spirit (Mar 1, 2010)

Well, the week is almost shot now and today is probably at it's best before speculation for next week raises the peso value:


*Foreign Exchange*

RateBuySell
USD47.90048.400JPY0.4478
0.4713EUR51.6500
54.4700
SGD33.9700
35.5000CNY6.9800
7.2700As of October 06 2016


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

Dang didn't expect it to drop so fast, we always get slammed for Christmas.


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## Asian Spirit (Mar 1, 2010)

M.C.A. said:


> Dang didn't expect it to drop so fast, we always get slammed for Christmas.


That one I posted of P48.40 = $1.00us dollar is not bad.


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## WestieRed (May 7, 2013)

49.20 today.


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## Asian Spirit (Mar 1, 2010)

WestieRed said:


> 49.20 today.


It's gonna be interesting to see what it is mid-week, Wednesday or so.


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## WestieRed (May 7, 2013)

Jet Lag said:


> It's gonna be interesting to see what it is mid-week, Wednesday or so.


In one to two years it will be 55+ to 1 IMO... not sure how that would work out for locals though.


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## WestieRed (May 7, 2013)

Jet Lag said:


> It's gonna be interesting to see what it is mid-week, Wednesday or so.


Shortly after I arrived here it was 43.8 or so.. so this is great. Plus I got a Charles Schwab account and can get my money here with zero cost.


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

Didn't want to deposit a check for more money so used the money changer and even though the dollar exchange rate is high his exchange rate was 44 peso's yesterday, from now on I'm going to stick to using my bank and waiting the 30 days and not cash anymore checks with the money changer, keep any extra money I have with my bank here.


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## Asian Spirit (Mar 1, 2010)

M.C.A. said:


> Didn't want to deposit a check for more money so used the money changer and even though the dollar exchange rate is high his exchange rate was 44 peso's yesterday, from now on I'm going to stick to using my bank and waiting the 30 days and not cash anymore checks with the money changer, keep any extra money I have with my bank here.


That's the best way I think. Having Social Security direct deposited to a local bank gives you the current rate without loosing anything But has a good advantage too in that there is no waiting for a check to clear.


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## Rogdas (Apr 9, 2015)

today I can get 49.55 in sorsogon. waiting for it to hopefully hit 50 in the next few days. then I will change some dollars to purchase a new car.


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## Asian Spirit (Mar 1, 2010)

Rogdas said:


> today I can get 49.55 in sorsogon. waiting for it to hopefully hit 50 in the next few days. then I will change some dollars to purchase a new car.


We do our banking in and through a Philippine bank and as such, don't loose anything on an exchange of US dollars to pesos. 
For that reason, I use This Site as it seems to reflect Banko Centro in almost real time during the day.
I checked the rate just a few minutes after you did and it's showing as P49.92 = $1.00usd
Not bad at all for us but makes me wonder about the long term effect for the Philippines. It will be interesting to see what it is on or about the 5th of December when pensions are deposited.


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## Hey_Joe (Sep 13, 2016)

Jet Lag said:


> We do our banking in and through a Philippine bank and as such, don't loose anything on an exchange of US dollars to pesos.


You may want to reassess your banking practice.

Not very prudent for a Foreigner is to utilize Philippine Banks for banking. In the event of your death, the BIR freezes your bank account regardless of your assets and estate until a BIR clearance is issued. That means no access to funds for family. 

Keep your stateside bank, the BIR can't touch it and your family will have the opportunity to liquidate your funds legally if and when you die. 


What happens when you die in the Philippines? – Philippines Lifestyle News

Estate Tax - Bureau of Internal Revenue


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## Asian Spirit (Mar 1, 2010)

Hey_Joe said:


> You may want to reassess your banking practice.
> 
> Not very prudent for a Foreigner is to utilize Philippine Banks for banking. In the event of your death, the BIR freezes your bank account regardless of your assets and estate until a BIR clearance is issued. That means no access to funds for family.
> 
> ...


That's some good information--thanks. Most of the US dollars inbound to the Philippines is Social Security. Others are piped in and deposited into a pesta scct that is in my wife's name only. I don't even have a signers name on it. The BIR allows an amount to be invested tax free in a local water district company and that helps.
Other cash in past years bought farming equipment for the family farm and seems to be protected to a degree. Basically, everything belongs to my wife and hopefully that will help her in the end. Some we stuff the mattress with and is safe. Well, unless there is a fire. Hahaha


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## esv1226 (Mar 13, 2014)

Jet Lag said:


> Some we stuff the mattress with and is safe. Well, unless there is a fire. Hahaha


I do not suggest keeping cash this way, but you can get fireproof safe.


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## Hey_Joe (Sep 13, 2016)

Ram1957 said:


> Peso may weaken to P50/$1 on Duterte worries, global risks: BMI Research | ABS-CBN News  :fingerscrossed:


50.05 at 9am Philippine time, Nov 25, 2016

https://www.google.com/#q=1 USD to PHP


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## Asian Spirit (Mar 1, 2010)

Hey_Joe said:


> 50.05 at 9am Philippine time, Nov 25, 2016
> 
> https://www.google.com/#q=1 USD to PHP


That's pretty good for us exchanging the dollars for sure. Looks like it dropped a bit after lunch but I'll bet Wednesday or so it will get better again.

1 USD =49.8364PHP➔US Dollar1 USD = 49.8364 PHP
↔
Philippine Peso1 PHP = 0.0200657 USD
Live mid-market rate 2016-11-25 05:50 UTC


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## Tukaram (Dec 18, 2014)

It is great for expats, and OFWs.


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## JM101 (Jan 6, 2015)

Yea...it figures...just my luck....I'M SELLING.

Grrrrrrrr (lol)

JM101


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