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Post by bernie on Nov 20, 2007 8:50:00 GMT 8
Which you prefer bros? it seems that more and more people complains when dollar drops. hmmmmm???
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Post by warlock^_^ on Nov 20, 2007 8:53:36 GMT 8
I'm not complaining but I'm not happy about it.... but nobody complained when the dollar jumped from 25php to 50php back in late 90s.
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Post by ronaldarca on Nov 20, 2007 9:27:24 GMT 8
It actually depends on who sees it and how long his outlook is... If your primary source of income is the Dollar and you spend it here, you're most likely affected when you are tied up with high expenses due to the comfort of the high dollar some 1-2 years ago. (est. 50-55PHP = 1USD). This is a familiar case with OFWs sending their children to good schools, high tuition, buying a car more than what they need, and then the dollar dives down some months after. (currently 42-43PHP = 1 USD) But needless to say, we should actually be happy when the USD comes down since we can BUY USD FOR LOWER... this is to assume that you have a working outlook, investing on USD, and would not spend the USD for some other things. I'm particularly happy when the USD closed at 42.75 last Nov. 9, since I can buy it for 43.00 = 1 USD then a week after it Nov. 16 shoots up to 43.50, in which I could sell at 43.30 at a black market. That's some 0.30 gain per dollar when i flipped it (my working outlook actually is 2 weeks, but became 1 week due to high closing at 43.5, and i assume it ain't gonna go up any moment sooner since December is closing in.). But then again if you got a chance, go BUY while its LOW, BUY REGULARLY though little. Same goes with other investment instruments. Don't panic or exchange on impulse, you're not at loss UNTIL you converted to LOW pesos.
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Post by rocky on Nov 20, 2007 9:54:37 GMT 8
Cabronski! Yes. I am complaining.
Of course I am losing about 30% of my purchasing power na when I used to 'make do' at 55 exchange rate. Now at 42-43, I am feeling the pinch. I can't save anymore.
Common guys. Take pity on me. I am just a veteran pensionado earning fixed monthly income in $. I don't have any other source of income.
How can I earn more when I dedicated my waking hours to endless mountain biking na lang following the dirt trails of a true bonafide drifter/adventurer.
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Post by anthrax76 on Nov 20, 2007 10:59:49 GMT 8
he he he papi rocky, invest in Euro anyway, yeah, well i'm not complaining for the reason that i'm not spending $ here, they're just at the bank. although it's a normal phenomenon that USD goes down during the Christmas season. The reason being is the OFW's are bringing in $$$. I'm not sure if this affects only the USD or the whole PHP gets higher compared to other currencies.
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Post by arcireyes on Nov 20, 2007 11:20:51 GMT 8
from an exporter's POV, lemme share the effects of this "STRONG PESO": exporter's like us (or where i work) are the ones hit dead center when the peso becomes strong. our sales (when converted to a "strong" peso) goes down yet our production cost (direct labor, materials, rental and utilities) remains constant and on a bad month even goes up. to make the long story short, our company's (us dollar-based) sales goes down proportionately with how strong the peso becomes. from the export zone grapevine, i've heard that a couple of garment companies are just finishing their 2007 export orders and would close shop before the year ends because of the "STRONG PESO", bringing down with them thousands of workers and another thousand mouths who rely on their meager income. from a layman's POV a strong peso doesn't make its mark felt on the stomach. care to ask the vendors, jeepney drivers, magbabalot and your ordinary juan or juana de la cruz if the "STRONG PESO" alleviated their lives? it's all the same, the poor man's pandesal even became expensive. this is all BS IMHO
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Post by anthrax76 on Nov 20, 2007 11:34:43 GMT 8
sir arci, you hit it spot on.
just thinking out loud.
until that 12% eVAT is still in place....the "STRONG PESO" won't be felt.
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Post by Ben Dover on Nov 20, 2007 13:33:20 GMT 8
what do you guys think will happen if the peso is weak, maybe P75.00 = $1.00 and the price of oil in world market is as high as now? some of those people, dang them, they are not gonna say, "yeah! we are doing better" unless you give them everything and for free...sala sa lamig sala sa init. may malulungkot, may sasaya but what we should be focusing on is for the better good of the majority of the people and not only on certain segments where we belong. my 2 cents. uy nakalimutan ko...naks! ;D
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Post by maxbuwaya on Nov 20, 2007 13:39:13 GMT 8
New World Order?
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Post by dayuhan on Nov 20, 2007 13:49:13 GMT 8
What people forget is that no country really wants a strong currency any more. Look at the Chinese... they've been keeping their currency artificially weak for more than 10 years now. Costs them more in oil but their exports more than make up for it. Of course they actually encourage exporters and investors, instead of putting up all kinds of open and hidden barriers as happens here...
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Post by Ben Dover on Nov 20, 2007 13:57:39 GMT 8
hmm...no wonder mahatir did something like that in malaysia...can we peg the peso to certain value too?
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oceanrider88
Free Rider
Life is like riding a wave. To keep your balance you must keep moving.
Posts: 299
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Post by oceanrider88 on Nov 20, 2007 23:06:22 GMT 8
i want a WEAK peso to boost exports, increase outsourcing jobs like call centers, increase tourism etc etc. This will create more jobs for more people especially those in the provinces.
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Post by glockbiker on Dec 3, 2007 17:41:50 GMT 8
I want a strong Peso (ie., a weak USD) if that would mean low, low priced Tune hubs, Chris King Headsets, XTR gruppos, Titus frames, 08 Zokes, etc.
But kidding aside, I guess one factor that contributes to the strong inflow of dollars is the fact there are so much, much more Pinoys working abroad than ever before. And there's no end in sight to the exodus.
Look at all those nursing schools churning out graduates every year! They're OFW factories!
Where will it end? Maybe when the Forex rate hits Php32.00/USD1.00 it would not be economically feasible anymore to be an OFW. In the 90s one could be an OFW for that much. But not today because things are much more expensive now.
It really boils down to the old supply and demand equation.
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sdny
Free Rider
Har-Har-Har "Terrible-Terrible-Terrible"
Posts: 218
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Post by sdny on Dec 3, 2007 19:53:30 GMT 8
for my pov "our kababayan who (the over seas filipino workers)will suffer most of the peso-dollar-dollar-peso, circus! I'd agree to SIR ARCI-----------
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sdny
Free Rider
Har-Har-Har "Terrible-Terrible-Terrible"
Posts: 218
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Post by sdny on Dec 3, 2007 19:59:20 GMT 8
ohh! by the way pls. explained to us not just me, why our peso is good than the u.s. dollars, why we need a stong peso than the dollars? is it related to the oil cost? any explanations-please-thanx!
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Post by segundo on Dec 3, 2007 23:59:49 GMT 8
wowwww,,, actually i'm not affected by peso-dollar ex-rate co'z my pension is in euro,,, peso is not that strong,,usd is weak for now worldwide....sorth of,,, the government is manipulating ex-rate to show to all pinoy that economy is good,,,(just my opinion)
(0.02 cents)
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Post by ronaldarca on Dec 4, 2007 3:57:08 GMT 8
wowwww,,, actually i'm not affected by peso-dollar ex-rate co'z my pension is in euro,,, peso is not that strong,,usd is weak for now worldwide....sorth of,,, the government is manipulating ex-rate to show to all pinoy that economy is good,,,(just my opinion) (0.02 cents) in a way that's correct, there's alot of 'window dressing' on the economy and forex is just one slice of the cake they have to deal with. It's healthy. EURO rocks! hehe @sidney Strong peso and weak dollar need not explaining much since its just how the cookie crumbles = trade. Oil is a different medium though they work with each other. In fact, everybody works with each other. We can have a talk on how you can maximize your USDs at these dire times Just a thought... I've heard somewhere that the current conditions fit much like what happened to Thailand before. Baht went down on '97 due to the asian financial crisis even arriving at an exchange of 1 USD = 52.xx THB then regained ground due to investor outlook and cutting down on interest rates. Their current fex is 30~32 = 1 USD. Peso can be just the same anytime soon as they say and as it shows (believe it or not), our economy is Stable. We're at our all-time low on interest rates, meaning its easier to borrow money nowadays for business. On the other hand, the US economy might be at a slump nowadays but historical data shows they recuperate in as little as 6 months. We're around at the 4th I think. That should be good news
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Post by jr on Dec 4, 2007 4:49:44 GMT 8
The only problem here is the oil prices was to high and mortgage industry continue to drop. The drop of dollars brought lots of European visitors. Specially this time of year.
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sdny
Free Rider
Har-Har-Har "Terrible-Terrible-Terrible"
Posts: 218
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Post by sdny on Dec 4, 2007 7:20:09 GMT 8
thanx ronald! for the brief explanation....hehehe!
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Post by gadgets88 on Dec 4, 2007 7:39:45 GMT 8
Choice between High Peso-Low Dollar or Hi-Dollar-Low-Peso, I would choose STABILITY instead.
A stable gasoline price (like during the Martial Law) not just regulated but sustained by the government is the best scenario for economic stability as well.
For importers and retailers like me, the weakening of the dollar only cause my customers to complain like:
Why are your prices not going down when the dollar is?
To which my response is:
because my imports, my dear, were paid at the rate of P55. The stuff weren't ordered yesterday and didn't arrive just now. They were sitting on the warehouse and I have to pay rent all those times!
Some people don't understand the macro-economic process and the fluctuation only causes uncertainty.
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Post by mambruko on Dec 22, 2007 15:58:16 GMT 8
Strong Peso? I am also affected by that but the only thing i understand at the back of it all is that GMA was only trying to tell the people that the Peso is becoming stronger and the economy is boosting.Well for my point of view she is totally d@mn wrong coz if our economy is getting stronger besides the peso,how come 72% of our people still comes to the bracket of poverty.Maybe corruption is becoming stronger kasi they don't like thousands instead millions na in their pockets(i think bank accounts).And beside they have this scheme na to supply a lot of OCW's around the world so the supply of the dollar will be enough not shortages.Look there are so many OCW's na sumusweldo lamang ng average to 5-400$ a month,what do you think will gonna happen to them?Look at what happen to those pinays working in Malaysia?They are forced to sell their bodies for the sake of finding a decent job.,is this justifiable?For me this people who is enjoying their positions are very happy coz it doesnt matter if it goes up or down,it only matters how much they can corrupt.....
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