Shrinking Dollar

4300POSTS

5 years ago

Today transferring money from my Dollar account in the States to Peso account in the Fil the rate is 48.65.

Maybe it's time to move Peso in Fil to Dollar in the states.

2 members reacted to this post

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pej1111 Serial expat

562POSTS

5 years ago

The dollar is not shrinking, it is growing daily, so very happy for us Aust.

2 members reacted to this post

Richard Yan Contributor

197POSTS

5 years ago

Peso is on up swing state.

Jackson4 Serial expat

714POSTS

5 years ago

USD value is shrinking. Just paid the bills today. The prices of goods and services had gone up.

bigpearl ViP

4327POSTS

5 years ago

Swings and merry go rounds that we all live with, decisions decisions.

Cheers, Steve.

2 members reacted to this post

thewoodenpotter Active member

68POSTS

5 years ago

bigpearl wrote:
Swings and merry go rounds that we all live with, decisions decisions.

Cheers, Steve.

Yup thats pretty much it, some days聽 its up other its down, you cant really do much especially if your living there, you have to eat etc so it聽 is what it is.

1 member reacted to this post

bigpearl ViP

4327POSTS

5 years ago

Ride the tide and put it in the safe when the exchange rate suits. It certainly is what it is.

Cheers, Steve.

1 member reacted to this post

Enzyte Bob ViP

4300POSTS

5 years ago

bigpearl wrote:
Swings and merry go rounds that we all live with, decisions decisions.

Cheers, Steve.

Unfortunately it is swinging the wrong way for USD. I first starting using TransferWise on Febuary 22, 2019.

The rate then was 52.24 Peso per USD (Febuary 22, 2019)
The rate today is 48.65 Peso per USD聽聽聽(August 20, 2020)聽

A 7% decline, If the US Treasury聽 prints more money for the next stimulus it will decline further.
Now on the last tax cut, they were crying it was for the rich only. So the rich lost 7% too, relatively speaking the middle class has lost nothing, 7% of nothing is nothing.

It's not actually true, but you may get my point. Rising prices are caused by the inflation. So all the debt owed by the Federal Government gets paid back with inflated dollars, China is owed 1.1 Trillion Dollars that they hold in Treasury notes.

Just think if the US defaulted on purpose on these notes owed to China.

1 member reacted to this post

frankanderson Contributor

114POSTS

5 years ago

same here, Peso on the rise

still beats ATM which I get hit with 250P per 10K transaction + a charge from my bank
(about $2 USD)

would be nice if they didn't have that 10K limit per transaction on local ATM.

I just try to offset it by balancing better and doing 1 wire transfer per month to my missus account, she then withdraws everything I need at no charge and the rest goes to bills.

All Good聽

pej1111 Serial expat

562POSTS

5 years ago

#10

I have always budgeted on 33php to the AUD, it is now running at nearly 35php for one AUD.聽 But not all at once, wait to see if the AUD goes higher聽

As Bigearl says swings and merry go rounds.

2 members reacted to this post

TeeJay4103 Serial expat

637POSTS

5 years ago

#11

When we moved to the RP, the exchange rate was about 40 Pesos to 1 US dollar.聽 We built a house and lived comfortably at that rate.

pej1111 Serial expat

562POSTS

5 years ago

#12

One thing to consider in addition to the inflation rate is that the CPI,聽聽The BSP target is around 2% to 4%, it has been running at around 2.5% better than the days when it was much higher, so every ones $ should go further.