I am wondering why the exchange is so bad?

[ivantulier 1]

Does anyone have an explaination why the money exchange to the Philippine so bad.

[marriedtomrg 141]

Wish I knew, too...I just sent money to my mom to help pay my credit card bills back there and the exchange was down to $1 = Php 44.65. So sad!

[ivantulier 1]

Wish I knew, too...I just sent money to my mom to help pay my credit card bills back there and the exchange was down to $1 = Php 44.65. So sad!

I know I sent some money to my fiance in pesos since she is in a provence and they dont have exchange vendors their so I had send in that manner and it was at 43 which is so bad.

[edp333 9]

The exchange rate is usually determined by the forex value. Exchange rates change every day because currencies are traded on the foreign exchange market.

The value of the US Dollar has been declining.

Some reasons investors may not be investing in the US Dollar:

1. The U.S. debt is over $13 trillion.

2. Raising taxes slows the economy and there is plenty of talk about raising taxes.

3. Slumping U.S. economy.

[DouglasFiel 53]

All perspective,,, whether you earn dollars or pesos...

Thank our out of control unfunded federal spending...

Regards,

[DEDixon 39]

The value of the US Dollar has been declining.

not true, the dollar, in the last year has gained against major currencies as well against the PH peso in the last 3 years.

there are a slew of reasons for currency valuations. one reason the dollar has increased in value is because investors have been buying US treasuries which since the US has never defaulted on a loan are considered safe. one reason the dollar has NOT gained more is because interest rates are at an all time low so parking capital in dollars doesn't pay well currently. some investors have so much money they need to put away, in a safe place, they buy US treasury just for that purpose alone, regardless of interest rates.

pretend you had 50 million and the stock market is on the way down world wide, where are you going to put your 50 million, under your bed? some feel that US treasuries is their only option.

Edited September 3, 2010 by DEDixon

[DEDixon 39]

also RP economy will grow nearly 8 percent whereas the US economy 1.6 percent. RP is not hurting. they are getting more and more call centers and back-office work from the US and Europe and other English speaking countries everyday. of course, the RP isn't hurting because historically it has been so bad there that they have no where but up to go.

[andrea4prez 1]

I know I sent some money to my fiance in pesos since she is in a provence and they dont have exchange vendors their so I had send in that manner and it was at 43 which is so bad.

we should be happy for the philippines if the value of peso is going up right? they need it more than USA.

[envy_me 18]

we should be happy for the philippines if the value of peso is going up right?

correct! we should be happy because it means philippine economy is getting better..

[magdasal 19]

we should be happy for the philippines if the value of peso is going up right? they need it more than USA.

Unfortunately, I think it's more the US economy going down, rather than the Philippine going up, that is causing the poor USD exchange rate. So, relatives in the US are able to give their loved ones back home less buying power...not a good thing.

[edp333 9]

not true, the dollar, in the last year has gained against major currencies as well against the PH peso in the last 3 years.

there are a slew of reasons for currency valuations. one reason the dollar has increased in value is because investors have been buying US treasuries which since the US has never defaulted on a loan are considered safe. one reason the dollar has NOT gained more is because interest rates are at an all time low so parking capital in dollars doesn't pay well currently. some investors have so much money they need to put away, in a safe place, they buy US treasury just for that purpose alone, regardless of interest rates.

pretend you had 50 million and the stock market is on the way down world wide, where are you going to put your 50 million, under your bed? some feel that US treasuries is their only option.

Please refrain from stating what I post as not true (a lie) unless you can prove it. http://dictionary.cambridge.org/dictionary/british/false_2

1. First I research before I post.

2. I stated, "The exchange rate is usually determined by the forex value." The word always is not in this sentence.

Some of my references:

Fridays decline: http://www.reuters.com/article/idUSN0312492120100903

http://useconomy.about.com/od/tradepolicy/p/Dollar_Value.htm

http://www.fxstreet.com/rates-charts/usdollar-index/

Chart of US Dollar value since June 2010

[Dogwood_Poet 16]

I work in retail (musical instrument sales and instruction) and we definitely have not seen any great recovery in our part of the US. I have noticed whenever gasoline goes up the dollar goes down vs. peso. I think disposable income in the US is at an all-time low, at least compared to the past several decades.

OH, I miss the good ole days of 50+ PHP to the dollar!

I wish the Philippines economy was going up enough to explain the change in rates, but I just can't believe it.

[envy_me 18]

Unfortunately, I think it's more the US economy going down, rather than the Philippine going up, that is causing the poor USD exchange rate. So, relatives in the US are able to give their loved ones back home less buying power...not a good thing.

LOL! it's the same thing! it means peso is winning versus dollar.. if you analyze it, when US economy goes down, philippine economy goes up.. don't confuse yourself..

and it's actually not "less buying power"! if you have an economy class during high school or college, you would know that when the economy continues to go up, it will result to prices going down..

a lot of filipinos complain when they send money back home and they see that the peso conversion is very low.. what they don't understand is-- it's a very good thing for the philippines!

PS: i work at a remittance center here in the US so i know..

[envy_me 18]

I work in retail (musical instrument sales and instruction) and we definitely have not seen any great recovery in our part of the US. I have noticed whenever gasoline goes up the dollar goes down vs. peso. I think disposable income in the US is at an all-time low, at least compared to the past several decades.

OH, I miss the good ole days of 50+ PHP to the dollar!

I wish the Philippines economy was going up enough to explain the change in rates, but I just can't believe it.

uhm.. if u dnt know yet.. if $1 = P50.. that means philippine economy is doing really bad!

just means peso is losing over dollar!!! do some research..

[envy_me 18]

i think some people are having a hard time understanding simple economy and english, kaya tatagalugin ko na lang..

eto simpleng simpleng explanation!!! isipin nyo na lang kung ang $1=P1, ibig sabihen non same level na natin ang US!!!

at ang ibig sabihen non kung kapantay natin ang US, nde na tyo 3rd world country!

.

Edited September 4, 2010 by envy_me