US Dollar to Peso Exchange Rate

[Joe Kano 327]

47 is going rate, Why is it so low?

 

Philippines economy is tanking and US Economy is rocking, should be around 53 to 55 any one know why it's so low?

 

 

[AlaMike 231]

I was wondering the same thing myself?

last time I was there(before covid), my exchange rate was over 50. And that was at the hotel casino.

[payxibka 10,045]

5 minutes ago, Joe Kano said:

47 is going rate, Why is it so low?

 

Philippines economy is tanking and US Economy is rocking, should be around 53 to 55 any one know why it's so low?

 

 

Your thought process is a bit backwards as to how a currency is priced.  The higher the demand for dollars or the lower supply of dollars,  the higher the exchange rate will be and vice versa.   Right now there is lower demand with an over abundant supply.  Both are factors to a weakened dollar 

 

One reason is that there's currently an over abundance of dollars in the country.  This is partly because remittances keep coming in.  While at the same time demand for imported goods is down (which is paid for in USD) because the economy is so weak.   So you have more dollars flowing into the country than leaving.  So until the economy picks up and Philippines starts purchasing imported goods again,  not a lot will change.   The current prediction is sub 50 for the balance of the year.

[Mike E 11,739]

https://tradingeconomics.com/philippines/interest-rate
 

Interest rates for bank deposits in the Philippines are just better than in the USA.  
 

The interest rates on the overnight deposit and lending facilities were also kept at 1.5 percent and 2.5 percent, respectively. 

[Murph4865 597]

1 hour ago, Joe Kano said:

47 is going rate, Why is it so low?

 

Philippines economy is tanking and US Economy is rocking, should be around 53 to 55 any one know why it's so low?

 

 

Where is the Economy booming in the USA?

[Commish10 427]

2 hours ago, Joe Kano said:

47 is going rate, Why is it so low?

 

Philippines economy is tanking and US Economy is rocking, should be around 53 to 55 any one know why it's so low?

 

 

I use Remitly, I don't even get that much. Right now 46.24

36 minutes ago, Murph4865 said:

Where is the Economy booming in the USA?

Texas. Dallas area to be specific

[seekingthetruth 1,246]

2 hours ago, Joe Kano said:

47 is going rate, Why is it so low?

 

Philippines economy is tanking and US Economy is rocking, should be around 53 to 55 any one know why it's so low?

 

 

Where are you seeing 47?  That is quite a bad rate if you are exchanging $ to P today.  XE, mid-market rate, is 47.82 right now and Villarica where we change was 47.69 today.

 

Rate bottomed out in Jan '13 when I moved here and we enjoyed the nice ride up to the peak at 54 + in 2018.  It made a big difference.  The trend has been down since then and will continue down if Biden is able to print trillions.  And all the stuff Payxibka listed.

 

I'm actually rooting for it to go down now.  I will be selling my house in pesos (most likely) and when I convert that to $ it benefits me if the rate is lower.  Come on 45!

[seekingthetruth 1,246]

7 minutes ago, Commish10 said:

I use Remitly, I don't even get that much. Right now 46.24

You should check other services and compare the total cost.  X-rate + fees.  Many like Transferwise and Moneygram for low costs, but it depends on the type of transfer you are doing.

 

 

[Joe Kano 327]

34 minutes ago, Commish10 said:

Texas. Dallas area to be specific

Exactly

 

I live in Frisco the whole are is booming

[payxibka 10,045]

Only reason we have unemployment here is because the government is paying people to sit on the bench 

[Joe Kano 327]

33 minutes ago, seekingthetruth said:

Where are you seeing 47?  That is quite a bad rate if you are exchanging $ to P today.  XE, mid-market rate, is 47.82 right now and Villarica where we change was 47.69 today.

 

Rate bottomed out in Jan '13 when I moved here and we enjoyed the nice ride up to the peak at 54 + in 2018.  It made a big difference.  The trend has been down since then and will continue down if Biden is able to print trillions.  And all the stuff Payxibka listed.

 

I'm actually rooting for it to go down now.  I will be selling my house in pesos (most likely) and when I convert that to $ it benefits me if the rate is lower.  Come on 45!

I just google and saw the exchange rate

 

I want to buy a Yamaha XMAX over in the Philippines and would be nice to have it around 55

[Joe Kano 327]

3 minutes ago, payxibka said:

Only reason we have unemployment here is because the government is paying people to sit on the bench 

No doubt

 

Texas has stopped it by Executive order by the governor:

Abbott Ending Federal Pandemic Payment for Texans – NBC 5 Dallas-Fort Worth (nbcdfw.com)

 

[payxibka 10,045]

Unfortunately I live in a democratic social welfare state

[Cyberfx1024 7,980]

3 hours ago, Joe Kano said:

47 is going rate, Why is it so low?

 

Philippines economy is tanking and US Economy is rocking, should be around 53 to 55 any one know why it's so low?

 

 

I just saw the exchange rate because I saw this topic but gosh this is horrible. 

[Joe Kano 327]

1 hour ago, payxibka said:

Unfortunately I live in a democratic social welfare state

No more Government Order Mask mandates in Texas by Executive Order of Governor

 

Governor Abbott Issues Executive Order Prohibiting Government Entities From Mandating Masks | Office of the Texas Governor | Greg Abbott